HSBC Shares Surge on Dividend Bets as Turnaround Gains Steam
- Bank has gained 50% since hitting a 25-year low in September
- Catch up rally possible amid ‘attractive’ valuation: Guotai
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HSBC Holdings Plc shares surged as much as 8% in Hong Kong trading on optimism Europe’s biggest lender may soon resume paying dividends as a turnaround gathers speed.
The shares rose 6.5% to HK$42.35 in Hong Kong, making it the best performer in the benchmark Hang Seng Index. They have still declined 30% so far this year.