Boost for HSBC as major Chinese investor Ping An increases stake

Move halts slump in share price after money-laundering claims and US-China spat

HSBC has received a much-needed vote of confidence from its largest investor after China's Ping An Asset Management increased its stake in the embattled bank.

The move comes after the lender was caught in the middle of rising diplomatic tensions between Washington and Beijing and as it attracts fresh criticism for its money-laundering compliance procedures.