(Reuters) -HSBC Holdings said on Tuesday it will sell its Argentina business and record a $1 billion pre-tax loss from the divestment in the first quarter of fiscal 2024 as the lender moves to sharpen its focus on Asia. HSBC will sell the business, which covers banking, asset management and insurance and $100 million in subordinated debt, to Grupo Financiero Galicia for $550 million, according to a statement. Buenos Aires-based Galicia is Argentina's fifth largest bank.