--- Updates with background, broker comment and share price ---
Banking group HSBC (LON:HSBA) posted a 32% rise in third quarter profits, but took a hit from Chinese economic fears.
HSBC said profit before tax (PBT) lifted to US$6.1bn in the three months to September 30 against US$4.6bn a year ago, although adjusted pre-tax profit fell 14% to US$5.5bn.
But shares in the group fell 3.9p to 503.7p as analysts noted that the Asian slowdown had fuelled a 4% decline in HSBC's revenue.
HSBC was also tight-lipped about whether it would move its headquarters out of the UK over fears about tax and a potential British exit from the EU.
The bank said its board had a self-imposed deadline of the end of 2015 to make a decision, but would take more time if necessary.
Jasper Lawler at CMC Markets said: "Shares are lower because the revenue-drop confirms fears over the impact of the slowdown in Asia.
"The delay in HSBC’s decision over moving its headquarters adds an unnecessary source of uncertainty."
Broker Investec, which is advising investors to buy HSBC shares, said: "Strong cost and impairment performances delivered a resilient result which, in a challenging third quarter for UK banks, offers modest encouragement."
Revenue was down compared to the third quarter of 2014. In particular, the stock market correction in Asia affected principal retail banking & wealth management, and revenue was also lower in global banking & markets.
Despite slowing growth in the mainland Chinese economy and market volatility in Asia, HSBC said there had been no visible impact on its Asian credit quality.
Reported customer accounts decreased by US$25.2bn during 3Q15 including adverse currency translation movements of US$32bn and a US$3.6bn decrease in corporate current account balances, in line with an increase in corporate overdrafts.
Excluding those factors, customer accounts grew by US$10.4bn with increases in Asia and Europe.
Chief executive Stuart Gulliver said: "Our third quarter performance was resilient against a tough market backdrop."
Operating costs were higher than the same period last year, as expected, but cost programmes started to gain traction. Third quarter costs were lower than in the second quarter.
In the nine months to the same date, reported PBT gained 16% to US$19,725m compared with US$16,949m last time.
Earnings per ordinary share and dividends per ordinary share for the nine months were US$0.73 and US$0.30, respectively, compared with US$0.67 and US$0.30 beforehand.
The third interim dividend was US$0.10 per ordinary share.