HSBC profit misses estimates; bank announces $2 billion share buyback

News Snapshot:

Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. HSBC 's full-year 2023 pre-tax profit missed analysts' estimates, hit by impairment costs linked to the London-based lender's stake in a Chinese bank — sinking its shares by as much as 3%. Europe's largest bank by assets saw its pre-tax profit climb about 78% to $30.3 billion in 2023 from a year ago, according to its statement released Wednesday during the mid-day trading break in Hong Kong. That missed median estimates of $34.06 billion from analysts...