HSBC Holdings PLC has suffered a backlash over an account closure in Hong Kong, with protesters vandalizing branches and cash machines, making it the latest multinational affected by social unrest and deepening political divides in the city. For HSBC the stakes are high. While now based in London, HSBC has deep ties with mainland China, and Hong Kong, an exceptionally profitable banking center, is its largest market by both revenue and profit.

Source: Wall Street Journal January 03, 2020 16:30 UTC