HSBC’s Hong Kong rate cushion strengthens case for $46 billion income target
HSBC Holdings Plc has gained a modest Hong Kong rate cushion ahead of its Aug. 4 interim results. One-month HIBOR fixed at 2.82821% on Thursday, 32.8 basis points above the level its finance chief described in May as the bank’s preferred range. A basis point is one-hundredth of a percentage point.