Why seng Is Trending Today?

HSBC has proposed to privatize Hang Seng Bank, valuing it at over $37 billion. The bank's shares jumped 30% following the announcement. The plan has elicited mixed reactions from customers and weighed on European shares, with HSBC's Hong Kong shares also dipping. HSBC aims to acquire 100% control of the bank, with a proposed deal worth $13.6 billion. The privatization plan has been a major topic of discussion, with HSBC's Elhedery and other officials providing updates on the development. Meanwhile, Hang Seng Bank has evolved significantly over the years, and its privatization is set to be one of the largest deals of the year.