HSBC rules out stakes in Big Four

HSBC Holdings, which last week confirmed it was negotiating to buy 19.9% of state-owned Bank of Communications, China's fifth largest bank, said it was not interested in acquiring stakes in any of China's big four state-owned banks. Hongkong and Shanghai Banking Corp Chairman David Eldon said HSBC had enough on its plate but might consider acquiring non-banking assets in the mainland, such as insurance.