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Strike up the band, it’s finally official: HSBC has named a new chairman.
Mark Tucker will indeed succeed Douglas Flint as the group’s new chairman. The plan to hire Mr Tucker, which had been approved by regulators in the UK and Hong Kong, had been conditional on whether an agreement could be finalised between the two sides.
Mr Tucker will become a director and group chairman from September 1, and will take over as non-executive group chairman on October 1. At AIA, regional chief executive Ng Keng Hooi has been appointed group chief executive and president designate with immediate effect, and will succeed Mr Tucker as group chief executive and president from September 1.
In Asia Pacific equities, Sydney’s S&P/ASX 200 index is 0.2 per cent lower in early trading. Futures tip Tokyo’s Topix index to start the day down 0.2 per cent as well, while Hong Kong’s Hang Seng index is expected to climb 0.1 per cent at the start of trading.
Corporate earnings reports out today include Ci:z Holdings, Sino Biopharmaceutical and Sundart Holdings.
The economic calendar for Monday exercises a light touch (all times Hong Kong):
- 07.50: Japan machinery orders (Jan), producer price inflation (Feb)
- 12.00: Malaysia industrial production (Jan)
- 12.30: Japan tertiary industry index (Jan)
- 16.30: Hong Kong Q4 producer price inflation, industrial production