News Snapshot:
HSBC caught in intensifying crossfire between US and China Chinese brokerages advance on merger speculation Wuxi Biologics, a Chinese drug maker, shot up after forecasting its net profit will jump by 58 per cent in the first half of the year from the same period last year. Hong Kong and China stocks climbed in morning trading on Wednesday, boosted by gains in HSBC Holdings and Chinese brokerages, while investors zoomed in on a spate of second-quarter earnings ahead of a key US Federal Reserve meeting. The Hang Seng Index recouped early losses and gained 0.3 per cent to 24,846.61 as...
