HONG KONG -- Hong Kong-listed banks have reported an increase in expected losses linked to their exposure to the ailing property sector in mainland China, despite a brighter overall earnings picture.
HSBC Holdings said Tuesday that expected credit losses and other impairment charges were raised to $3.6 billion for 2022, sharply higher than the $1.1 billion for the first half and a reversal from a positive $928 million for 2021.
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