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HSBC takes $500 million hit on Chinese real estate and warns of risk of ‘further deterioration’
By Michelle Toh, CNN Hong Kong (CNN) — HSBC warned Monday that China’s property market has “potential for a further deterioration” as it reported profits that fell short of expectations, partly because of a $500 million charge to cover potential losses on commercial real estate loans. Third quarter pre-tax profit at Europe’s biggest bank more
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