UPDATE: HSBC H1 Net Profit Up 23%

HSBC Holdings PLC (NYSE: HBC ) reported a 23% rise in its net profit for the first half of the year. HSBC's net profit for the first half surged to $10.28 billion, from $8.44 billion, in the year-ago period. Its revenue dropped 7% to $34.4 billion. HSBC shares dropped 4.17% to $55.55