HSBC Chinese brokerage joint venture partner selling 39% stake

HSBC Chinese brokerage joint venture partner selling 39% stake

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC Holdings PLC’s China securities brokerage joint venture partner is selling most of its equity ownership, an exchange filing showed, and a source with knowledge of the matter said the bank was expected to bid for the stake.