HSBC sticks with share buybacks after stock whacked by trade

HSBC Holdings Plc announced a fresh buyback for shareholders despite an increasingly fragile geopolitical backdrop that has weighed on the global economy and markets. The London-headquartered lender said Tuesday that it will buyback $3 billion and reported a pretax profit of $9.48 billion for the first quarter, surpassing a company-compiled estimate of $7.83 billion.

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