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Tuesday, 31 May 2016

HSBC proves canny trader with $9.4bln Ping An sale

Ping-pong diplomacy

The emerging market lender flogged 16 pct of the Chinese insurer at a premium to the market price. That’s impressive compared with Bank of America and Goldman Sachs, who accepted discounts for their bank stakes. It should also buy HSBC time to explain its broader China strategy.

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