UBS upgraded HSBC Holdings to buy from neutral, citing valuation. UBS said that lowered earnings forecasts due to lower deposit spreads, falling sales and higher impairments "invites discussion" of a reduced dividend, but added any cut would be temporary, rather than permanent. "While it is depressing that the world has deteriorated to the point at which we need to debate HSBC's distribution capacity, we do not see any risk of a capital call other than in circumstances where the group would already be the only bank left standing," UBS said. http://www.marketwatch.com/news/sto...8A-4BC1-4C9D-812B-8287BA6C15DE}&dist=hplatest
HSBC is one of the safest banks in the world right? Stock only down 20% or so thats amazing in these times.
Dad was in Hong Kong when the dot com bubble burst and when the housing market collapsed something like 60% in ? 7 -8 months? I suspect they have learned some lessons that the US counterparts have not (yet). By the way - I am a customer of them and have been very happy with them. I regard them at this moment as the safest bank in the world. Maria