


| Hong Kong Banks Slump After Morgan Stanley Downgrades Outlook |
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(Bloomberg) -- Hong Kong banks declined after Morgan Stanley cut the sector’s outlook, saying the stocks will underperform as a slowing economy and falling rates hurt profitability. Bank of East Asia Ltd. slumped 3.3% as of 11:03 a.m. local time while Hang Seng Bank Ltd. dropped 3.2%.
Posted: 2019-10-09 06:06:00
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