Markets are loving the idea that HSBC might quit London and move back to Hong Kong

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.

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