HSBC's quarterly profits have exceeded expectations, with the bank reporting a 29% increase in net income. The success has prompted HSBC to launch a $3 billion share buyback program. This move is seen as a sign of confidence in the bank's financial performance and its ability to generate value for shareholders.

Source: https://www.ft.com/content/a168e5fd-69fc-4cb1-8f4e-d4aefc855aee