Hang Seng Bank shares jump 30% on parent HSBC's privatization bid, valuing it at over $37 billion
1. HSBC plans to privatize Hang Seng Bank for HK$290 billion. 2. Hang Seng shares surged 29.5% following the announcement. 3. HSBC aims to strengthen its presence and brand in Hong Kong. 4. HSBC shares fell over 5% despite the privatization news. 5. The deal reflects HSBC's long-term growth strategy in Asia.