|Bid||20.76 x 4000|
|Ask||20.86 x 3000|
|Day's Range||20.75 - 21.04|
|52 Week Range||17.95 - 39.56|
|Beta (5Y Monthly)||0.43|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 27, 2020|
|1y Target Est||22.56|
If you love investing in stocks you're bound to buy some losers. Long term HSBC Holdings plc (LON:HSBA) shareholders...
HSBC's iconic lion sculptures reappeared in public on Thursday for the first time in more than nine months, partially restored after they were damaged by protesters during the social unrest in Hong Kong.Stephen and Stitt, as they are called, were unveiled outside the bank's headquarters in a ceremony this morning attended by more than 100 staff, journalists and members of the public."Stephen and Stitt have watched over HSBC's main building for 85 years. Through good times and bad, they have been an enduring part of Hong Kong's story," said Peter Wong, deputy chairman and chief executive of HSBC Asia-Pacific.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China."Many customers, employees and the general public told us how much they missed the lions, so we decided to put them back on display following the first phase of restoration. When the work is complete, they will look as impressive as ever."Because of social distancing restrictions the ceremony, officiated by Wong and local chief executive Diana Cesar, was kept short and simple. A feng shui master, David Lung King-chuen, offered a blessing, wiping the bodies of the two statues with a red cloth and burning incense sticks while Wong and Cesar patted the heads, paws and tails of the lions.Lung had advised HSBC on feng shui - the ancient Chinese tradition of aligning objects in their environment so as to create harmony - when it rebuilt the headquarters in the 1980s."The HSBC lions are icons for the bank and Hong Kong, I am so happy to see them again. I hope their appearance will bring good luck to the business of HSBC," said a small shareholder at the ceremony, who gave her name only as Cheung.The lions, which have guarded the entrance to the HSBC headquarters in Central since 1935, were taken out of public view after violent protesters smeared them with red paint and set them alight in retaliation for the banking group's role in the saga.A protester sets fire to an HSBC lion statue outside the bank's headquarters in Central on January 1, 2020. Photo: AFP alt=A protester sets fire to an HSBC lion statue outside the bank's headquarters in Central on January 1, 2020. Photo: AFPThey vented their fury at the UK banking group for closing down an account to feed Spark Alliance, which was accused of funding the legal and medical costs of the protest movement. Hong Kong police in December froze more than HK$70 million (US$9 million) in the account, while four of its members were arrested on money laundering allegations.That act became the early seed of the banking group's troubles as it later found itself caught in the middle of rising tensions between Washington and Beijing over a variety of issues, including a controversial national security law in Hong Kong and a US inquiry of Chinese telecommunications giant Huawei Technologies. HSBC left off fundraising by China's Ministry of Finance, first time since 2017Nationalistic tabloid the Global Times has suggested in recent months that London-headquartered HSBC could be placed on an "unreliable entities" list over the Huawei situation. The US also has threatened to sanction foreign banks in the city who engage in "significant" transactions with individuals accused of undermining Hong Kong's autonomy.In a Twitter post on Wednesday, Liu Xiaoming, China's ambassador to the United Kingdom, pointed to HSBC as an example of how China is opening up its markets to foreign businesses. Some in the mainland see the post as an example of the rhetoric about HSBC cooling down.China is continuing to promote reform and opening up, and strive to create a better business environment, which will create more opportunities for international businesses, including HSBC. @HSBC_UK https://t.co/w1IIA6Yh3r\- Liu Xiaoming (@AmbLiuXiaoMing) October 20, 2020HSBC executives have privately pointed to the company continuing to receive mandates from the Chinese government despite pressure in mainland media over Huawei. The company, however, was recently left off a US$6 billion sovereign bond sale for the first time since China returned to the international markets in 2017.Today's blessing ceremony, expected to take place at 11am local time, represents "the first stage towards the lions' full restoration which will be conducted by experts when they will be able to fly," Cesar said in the email.The bank had wanted to hire conservation experts from Britain to advise on the restoration but the Covid-19 pandemic prevented them from flying.HSBC adopted the sculpted lions as its emblems in 1921 when its chief manager Alexander Stephen decided a pair of lions symbolising protection and security would look impressive outside the group's Shanghai branch. The other lion was named after Gordon Stitt, the Shanghai manager at the time.The pair became an instant hit with the local population who would often stroke the lions on their way past, hoping the gesture might bring them power and prosperity.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
(Bloomberg) -- Damaged and defaced during tumultuous protests at the start of this year, the two bronze lion statues standing guard outside HSBC Holdings Plc’s main office in Hong Kong have made their return to the public in a city subdued by a Chinese crackdown on dissent.The lions, nicknamed “Stephen” and “Stitt,” were unveiled on Thursday following an almost 10-month restoration project after they were splashed with spray paint and partly set ablaze during a mass march at the start of this year.“Stephen and Stitt have watched over HSBC Main Building for 85 years,” Peter Wong, the bank’s Asia Pacific chief executive officer, said in a statement. “Through good times and bad, they have been an enduring part of Hong Kong’s story.”Pro-democracy protests rocked the city for months last year, but have all but disappeared after China imposed a new security law on the city and strict social distancing rules were put in place to prevent the spread of the coronavirus. Most recently, attempts at protests on China’s national day earlier this month were quickly stamped out by thousands of riot police, who swept up scores of people before they could mobilize.HSBC, which counts Hong Kong as its biggest market, has been caught in a tough spot. The attack on the lions came after the bank closed an account linked to the city’s pro-democracy movement in November. It has also seen some of its branches attacked.Under pressure from Beijing, the lender also this year publicly endorsed China’s new security law, drawing further ire from activists in the city. The London-based lender’s relationship with China has become increasingly tense, with Chinese media blasting it over its role in the U.S. investigation of Huawei Technologies Co. Last month, the ruling Communist Party’s Global Times newspaper reported that the bank could be put on an “unreliable entity” list that aims to punish firms that damage China’s national security.China is crucial in HSBC Chief Executive Officer Noel Quinn’s plan to boost profits. Quinn is speeding up shakeup of its global operations, pivoting further into Asia as its European operations lose money and it struggles with ballooning bad debt and low interest rates. The bank was this month for the first time since 2017 not part of a group of banks arranging China’s sovereign dollar debt sale.But there are now indications the standoff with China could be easing. The Global Times on Oct. 20 in a post on Twitter highlighted comments HSBC Chairman Mark Tucker made to a conference in Shanghai about the bank’s plans to expand in China. The tweet was then followed up on by China’s U.K. ambassador, Liu Xiaoming.The two lions -- animals the Chinese believe bring good fortune and prosperity to those they guard -- were first placed to watch over its Shanghai office in 1923. They were replicated in 1935 and shipped to Hong Kong, where one was named “Stephen” -- after A.G. Stephen, who commissioned the sculptures and served as the bank’s chief manager from 1920 to 1924 -- and the other “Stitt,” after G.H. Stitt, its then-manager in Shanghai.Mysterious Bags of Cash Trigger Major Hong Kong Protest ArrestsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.