The global banking giant said Monday that net profit for the quarter rose 57% to $3.87 billion from $2.47 billion in the same period a year earlier. HSBC is to buy back $2 billion of its shares after reporting a 5 per cent rise in half-year profits, and said repurchases of its stock could become a regular feature in the future.
The Nifty rallied 23.95 points, or 0.23 per cent, to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched yesterday. USA stocks ended mixed overnight as stable oil prices, strong earnings reports and subdued sovereign bond yields helped investors shrug off political and geopolitical tensions.
The Senate voted 98-2 to approve the sanctions bill that cleared the House earlier this week. Russian President Vladimir Putin said Thursday that Moscow will ultimately have to respond to sanctions imposed by the United States that he condemned as insolent towards Russia.
Reprimanding the errant MPs, Mr Shah said at the BJP's weekly meeting of lawmakers today that he would meet them separately. The amended bill for its fresh approval will now have to be returned to the Lok Sabha. While it has not been officially confirmed, all these MLCs are likely to join the BJP during Shah's presence in the next three days. The BJP chief exuded confidence that the party would retain power at the Centre in the 2019 Lok Sabha polls with more strength.
But HSBC Australia chief economist Paul Bloxham - who is expecting a cash rate hike early in 2018 - disagreed that the currency's strength would stay the RBA's hand. Although the headline CPI figure was weak, the bank may mention that underlying inflation was broadly in line with the forecasts it offered in its May SoMP.
Turnbull also said police had seized a "considerable" amount of material as part of the raid. "There will be lots of speculation around about what the intent was, but obviously all of us have been working hard over recent days and we rely upon the expertise of the federal police and [other agencies]", said Peter Dutton, a minister who will soon oversee all of Australia's domestic security arrangements.