Ping An News

Shares of HSBC Holdings fell over 3% in Hong Kong on Friday after reports that its top shareholder Ping An Insurance might be looking to cut its stake in the British bank.

China continues to battle its property demons while it is Italy's turn to be in the eye of the ratings agencies. Here is your week-ahead primer from Lewis Krauskopf in New York, Kevin Buckland in Tokyo, Danilo Masoni in Milan and Alun John and Dhara Ranasinghe in London. 1/ INFLATION WATCH A slew of Federal Reserve policymakers including boss Jerome Powell say they are still not sure that rates are high enough to finish the battle with inflation. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. The October consumer price index is expected to have climbed 0.1% on a monthly basis, according to a Reuters poll. September's CPI rose 0.4% on a surprise surge in rental costs, but also showed a moderation in underlying inflation pressures. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. A federal government shutdown meanwhile looms if lawmakers in Washington are unable to pass a measure to at least temporarily fund operations before a Nov.

BEIJING/HONG KONG (Reuters) — When China's largest developer Country Garden first skipped debt payments in August, its shares tumbled 14%, marking a reversal of fortunes: from industry poster child to another troubled property company struggling to pay its creditors.

HSBC said 19 April that restructuring HSBC Asia Pacific would be a material value loss for shareholders, and advised shareholders to vote against the resolution at the annual meeting in London on 5 May.

HSBC is being called upon by major shareholder Ping An to break itself up, the Financial Times reports, citing people familiar with the matter.

HSBC is being called upon by major shareholder Ping An to break itself up, the Financial Times reports, citing people familiar with the matter.