HSBC's third-quarter results have exceeded expectations, propelling its shares to a six-year high. Shares are currently 3.71% higher at 717.8 pence on the London Stock Exchange. The London-based bank, which derives most of its earnings from Asia, reported a pre-tax profit of US$8.5bn — a 10% increase year-on-year — surpassing analyst forecasts of US$7.6bn. This performance was driven largely by growth in its wealth management and wholesale banking segments, alongside strong customer activity in foreign exchange and debt markets. Accompanying these earnings, HSBC launched a fresh US$3bn share buyback program, marking the second multibillion-dollar buyback initiative this year. Combined with an additional US$1.8bn dividend payout, HSBC's total 2024 distributions to shareholders now stand at US$9bn.