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  • Nov 27, 2014
  • Updated: 9:46pm


The Hongkong and Shanghai Banking Corporation was founded in Hong Kong on March 3, 1865, and in Shanghai one month later. In 1980, HSBC acquired 51 per cent of Marine Midland Bank, buying the rest in 1987. HSBC Holdings was established in Britain in 1991 as the parent of The Hongkong and Shanghai Banking Corporation ahead of its purchase of the UK-based Midland Bank and the impending 1997 transfer of sovereignty of Hong Kong from Britain to China. 

In Brief

PUBLISHED : Tuesday, 19 April, 2011, 12:00am
UPDATED : Tuesday, 19 April, 2011, 12:00am

Big appetite for Tang Palace IPO

The initial public offering of mainland restaurant chain Tang Palace was oversubscribed 614 times yesterday. The group, whose shares begin trading in Hong Kong today, had to re-allocate 40 million shares originally earmarked for international investors. Anita Lam

iPad sales leave rivals standing

Apple's iPad remained the best-selling media tablet on the mainland in the first quarter, with a 78.3 per cent market share. Analysys International estimated that 4.41 per cent of Apple's share was down to smuggled iPad 2 tablets. Bien Perez

HSBC launches ETFs in Hong Kong

HSBC launched its first equity exchange traded funds in Hong Kong yesterday, signalling its expansion into the Asia-Pacific ETF market. It launched HSBC MSCI Golden Dragon, HSBC MSCI China, HSBC MSCI Hong Kong and HSBC MSCI Taiwan. Lulu Chen

Full steam ahead for Pacific Basin

Pacific Basin Shipping largely increased the volume of cargo charters and freight rates compared with two months ago. The firm said 68 per cent of its handysize fleet was fixed at an equivalent daily charter rate of US$13,570 to April 11, against 47 per cent at an average US$13,340 a day on February 17. Keith Wallis


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