By Justin HarperBusiness reporter, BBC News image copyrightGetty Images HSBC has signalled its "pivot to Asia", outlining plans to invest about $6bn (£4.3bn) in the region. It is targeting wealth management and commercial banking to drive "double-digit growth" and has singled out Asian markets such as Singapore, China and Hong Kong. The strategy update came as HSBC reported a 34% drop in profits for 2020 partly due to the impact from Covid-19. The UK-based bank already generates the bulk of its revenues from Asia. During its results announcement, Europe's biggest bank said it would resume paying a dividend of $0.15 a share in cash, the first payout announced since October 2019. HSBC's pre-tax profit fell to $8.8bn for the year ending 31 December, down from $13.35bn a year earlier. While annual profits slumped by slightly more than one third, they are marginally better than analysts expected. HSBC chief executive Noel Quinn said in a statement that the bank had a "solid financial performance in the context of the pandemic...read more...