HSBC HK shares hit 11-1/2-year peak as investors back CEO's retrenchment attempt

Hong Kong shares of HSBC 0005.HK rise 1.6% to HK$86.85, their highest since August 2013, and set for a second session of gain

Stock on track for the biggest one-day rise since January 16; top gainer in Hang Seng Finance Index .HSNF, which climbs 0.3%

HSBC's London shares HSBA.L rose 1.3% on Monday

Investors in HSBC are backing management attempts to shutter parts of its investment bank, even as U.S. President Donald Trump's deregulatory agenda fuels hopes for a boom in capital markets activity

Four shareholders, including two of the 20 largest, said last month's decision to axe HSBC's mergers and equity capital markets teams in the Americas and Europe made sense as the bank focuses on its strongest franchises in its core Asian markets

Hang Seng Index .HSI gains 0.9%

HSBC Hong Kong shares up 14.5% YTD