HSBC Chairman: Emerging Markets Priority Focus For Investment

2nd Aug 2010 11:08

HONG KONG (Dow Jones)--HSBC Holdings PLC (HBC) Chairman Stephen Green said Monday emerging markets will remain the bank's priority for investments and the lender will continue to invest in mainland China. Green also told reporters he doesn't believe the U.K.-based but Asia-focused bank has too much capital, in response to a question on the subject. HSBC's core tier 1 ratio rose to 9.9% in the first half, from 8.8% a year earlier, because of a number of fundraising exercises during the period. Earlier Monday, HSBC, Europe's largest bank by market capitalization, reported its first-half net profit doubled from a year earlier to US$6.76 billion from US$3.35 billion because of lower impairment charges and a gain on the value of its own debt. -By Aries Poon and Chester Yung, Dow Jones Newswires; 852-2832-2332; [email protected] (END) Dow Jones Newswires August 02, 2010 06:08 ET (10:08 GMT)