HONG KONG (Reuters) -- HSBC launched a $3 billion share buyback after reporting a 25% fall in first-quarter profit on Tuesday, and warned of a possible hit to loan demand and credit quality in the face of U.S. President Donald Trump's global trade war.
The London-based bank reported first quarter profit before tax of $9.5 billion compared with $12.7 billion a year earlier, mainly due to one-time charges related to business disposals in Canada and Argentina.
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