HSBC has announced plans to buy back shares, citing strong profits that exceeded estimates. The bank's quarterly earnings report showed a significant increase in revenue and profitability, leading to the decision to repurchase its own stock. This move aims to boost shareholder value and potentially stabilize the company's share price.

Source: https://www.bloomberg.com/news/videos/2024-10-29/hsbc-announces-buybacks-as-profit-beats-estimates