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HSBC misses profit expectations in third quarter

Third-quarter revenue fell 3.2%; Hong Kong-listed shares fall

HSBC said third-quarter net profit fell 24% from a year earlier due to “challenging market conditions”.

On Monday, the UK-based banking giant said quarterly net profit fell to $2.97bn from $3.9bn a year earlier. A FactSet poll of analysts had expected a net profit of $3.96bn for the quarter.

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