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Stock Market Live Updates: Futures Wobble After Dow's 550-Point Rally, Bitcoin Extends Fall - WSJ.com

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HSBC Holdings PLC Chief Executive Noel Quinn said he expects Hong Kong to prosper as China’s international financial hub, even as some international companies consider leaving the city.

“It’s important for China to have access to the international capital markets that exist and operate so effectively in Hong Kong,” Mr. Quinn said at the City Week conference in London Tuesday. “That’s what Hong Kong brings to China. So I think there’s a huge opportunity.” Some companies are considering leaving Hong Kong as Beijing reins in the political autonomy of the port city. In a survey by the American Chamber of Commerce in Hong Kong released last month,, citing uneasiness over China’s new security law and a pessimistic outlook of Hong Kong’s future.

HSBC makes most of its profit in China and Hong Kong, where it was founded in 1865. The London-based financial services giant, which once marketed itself as the world’s local bank, is selling most of its U.S. and French retail banking operations as part of a plan to refocus on Asia.

 

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