Prudential, HSBC Shares Tumble on China Tax Report
Macro·1 article across 1 outlet
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Prudential Plc, HSBC Holdings Plc and Standard Chartered Plc shares dropped after a report that China is expanding its personal income tax to include any returns from insurance policies in Hong Kong.
The news has raised concerns among investors regarding the potential impact on these companies' profitability in the region.
PrudentialHSBCStandard Chartered
Sources
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SourceReports the news
“Prudential Plc, HSBC Holdings Plc and Standard Chartered Plc shares dropped after a report that China is expanding its personal income tax to include any returns from insurance policies in Hong Kong.”
Bloomberg — Prudential, HSBC Shares Tumble on China Insurance Tax Report