HSBC's Shares Surge as Bank Shows Progress Taming Its Costs
- So-called jaws figure moves in the right direction for bank
- Shares rise in Hong Kong by the most since June 2017
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HSBC Holdings Plc Chief Executive Officer John Flint delivered the kind of growth that investors have been waiting for.
Flint, who took over this year, succeeded in posting third-quarter revenue gains that outpaced expenses: adjusted revenue climbed 9 percent while costs increased 2 percent. The shares in Hong Kong jumped after falling close to a two-year low last week.