HSBC shares fall in Hong Kong after cost-cut plans

Shares in HSBC fell in Hong Kong Thursday, a day after the banking giant announced plans to slash costs by up to $3.5 billion by 2013 and said it was considering selling its US branch network.
The heavyweight play shed 1.27 percent to close at HK$81.80 ($10.53) as the broader Hang Seng Index fell 0.94 percent.
The British lender said Wednesday it would seek to save $2.5-3.5 billion in costs within two years.