09:28 AM EDT, 10/09/2025 (MT Newswires) -- Financial stocks were edging higher premarket Thursday, with the Financial Select Sector SPDR Fund (XLF) slightly advancing.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.3% lower.

HSBC ( HSBC ) said the company and its subsidiary, The Hong Kong and Shanghai Banking Corp, have proposed to take over and privatize Hang Seng Bank in a deal valuing the company at 290 billion Hong Kong dollars ($37.27 billion). Shares of HSBC Holdings ( HSBC ) shares were down more than 4% pre-bell.

Cohen & Steers ( CNS ) said its preliminary assets under management were $90.9 billion as of Sept. 30, up from $90.4 billion a month earlier. Cohen & Steers ( CNS ) stock was up more than 6% premarket.

Blackstone (BX) unit Clarion Events is in talks to borrow 1.1 billion British pounds ($1.47 billion) from private credit lenders to fund a dividend and refinance debt, Bloomberg reported, citing people familiar with the matter. Blackstone shares were 0.1% lower premarket.