HSBC surges 15 % after SFC initiates inquiry

Discussion in 'Stocks' started by ASusilovic, Mar 10, 2009.

  1. The advance in HSBC shares came after Hong Kong's Securities and Futures Commission said it's making inquiries regarding the plunge in HSBC's shares in Monday's closing auction, during which HSBC lost 12.5% from its last level in the continuous trading session.{B43C4735-8E1C-4C53-B2CD-2A83D8873E9C}

    Maybe SEC should announce an inquiry into the 10 largest US hedgefunds ? Maybe the same "effect".
  2. Down 12.5%....up's a "wash"! :cool:
  3. Najarian said the option activity here was reminiscent of BSC and LEH. It's how they work.
  4. If you have GS accompanying your rights issue, you bet they don´t do "stupid" things...
  5. HSBC on Tuesday sought to calm investors unnerved by steep falls in its share price in Hong Kong this month. HSBC’s HK-traded shares recovered 13.9% on Tuesday, closing at HK$37.60, following a 24% fall on Monday, with about half the decline due to a massive last-minute trade by an unidentified party. The plunge left the HSBC share price at its lowest level for 13 years and was followed by a downgrade of the bank’s long-term deposit and debt ratings of its US division by Moody’s.

    ...get rid of established rating agencies....
  6. bidask


    someone was front-running the moody's downgrade?
  7. poyayan


    Hedge fund want a negative feedback loop betwen declining stock price and lower rating. Sprinkle with a couple of run of deposit.