Shares in HSBC are up by about 5.9% since first thing Friday morning, when the global investment bank announced that it was reviewing the location of its headquarters. In London this morning, they’re up 2.79% as of 9:35 a.m (4:35 a.m. ET).
Over the weekend, the Sunday Times reported that HSBC may spin off the Midland Bank (which it acquired in the early 1990s) — which could be a part of a pivot towards Asia, moving HSBC HQ back to Hong Kong.
And investors aren’t hating the idea:
Shares climbed even higher in Hong Kong, finishing up 3.59% after rising even higher during the day.