![](https://investorshub.advfn.com/uicon/69437.png?cb=1592321837)
Sunday, February 22, 2009 8:30:56 AM
20th February 2009 11:15
Shares in Europe's biggest lender, HSBC, hit their lowest point in a decade in Hong Kong on Friday (February 20th) amid negative speculation about the bank's forthcoming earnings and capital reserves.
The tumble helped to pull the benchmark Hang Seng Index down by 2.5 per cent as worldwide financial stocks were hammered by continuing fears over liquidity and concerns over institutions' exposure to a potential collapse in eastern Europe's banking system.
HSBC dropped 2.3 per cent to HK$53.80 (£4.95) per share, the lowest price since October 1998.
"The current economic down cycle is far from over, so the market is still trying to find a bottom," said Peter Lai of DBS Vickers.
The Hang Seng Index closed 324.19 points down at 12,.699.17. Reuters said the market was down 6.3 per cent over the week.
In Tokyo, the Nikkei 225 dropped 1.9 per cent as fears over an eastern European banking recession sent shockwaves through financial stocks.
The country's biggest lender, Mitsubishi UFJ Financial Group, lost 2.3 per cent, while Mizuho Financial Group plunged 4.1 per cent.
The Nikkei closed at 7,416.38, down 4.7 per cent over the week. Japan's broad-based Topix Index also closed down, hitting its lowest point since 1984 at 739.53.
Recent HSBC News
- HSBC U.S. Head of Wealth and Personal Banking Racquel Oden Expands Team with New Regional Market Heads • Business Wire • 06/25/2024 01:00:00 PM
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains • IH Market News • 06/21/2024 12:00:38 PM
- HSBC Appoints Danielle Johnson as Global Head of Institutional Client Group • Business Wire • 06/20/2024 01:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/18/2024 04:48:53 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/17/2024 05:02:18 PM
- Cardano Begins ‘Voltaire Era’ with Chang Fork, Enhanced Security by Fireblocks and Coinbase, and More Crypto News • IH Market News • 06/10/2024 06:31:23 PM
- HSBC Report Shows Global Supply Chains Remain Vulnerable to Unanticipated External Shocks • Business Wire • 06/10/2024 04:00:00 PM
- HSBC Inaugurates Innovative Workspace in Buffalo’s Historic Larkin Square ꟷ Shaping Workforce of the Future and Cementing Bank’s Commitment to Western New York • Business Wire • 05/29/2024 04:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/24/2024 04:58:24 PM
- Workday Shares Drop 12%, VF Corp Divests Assets for Cash Boost, and More • IH Market News • 05/24/2024 12:42:24 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/23/2024 04:49:32 PM
- HSBC Unveils Innovative New US Headquarters in Hudson Yards, Shaping the Workforce of the Future in New York City • Business Wire • 05/23/2024 04:00:00 PM
- OpenAI and News Corp Seal Partnership, DuPont de Nemours Announces Division, and More News • IH Market News • 05/23/2024 11:40:51 AM
- Form CERT - Certification by an exchange approving securities for listing • Edgar (US Regulatory) • 05/22/2024 07:44:18 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/22/2024 04:39:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/21/2024 04:52:23 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 05/20/2024 08:34:05 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 05:00:11 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/20/2024 02:30:02 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/17/2024 01:48:35 PM
- HSBC Announces New Hybrid Checking Account • Business Wire • 05/15/2024 07:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/13/2024 04:44:24 PM
- Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News • IH Market News • 05/06/2024 12:09:00 PM
- HSBC’s High Profit & CEO Resignation, Santander’s 11% Profit Surge, and More in Earnings • IH Market News • 04/30/2024 11:55:21 AM
FEATURED BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • Jul 2, 2024 7:19 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM