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You're browsing: HSBC News » General News » Article Title: HSBC loses $37 billion in market value since last Monday
10
Mar
HSBC loses $37 billion in market value since last Monday
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Although HSBC brags about being the first to say something about subprime losses in 2006, we now know why HSBC has been quiet. Is that a good tactic? Judge for yourself as HSBC value declines:

HSBC, dubbed the “big elephant” in Hong Kong because of its mammoth market capitalisation and powerful share market performance, has shed $37 billion in market value since last Monday when it outlined plans to raise $17.7 billion in a deeply discounted rights issue.

HSBC’s Hong Kong-listed shares plunged 24 percent on Monday alone as large investors shorted the stock on hopes of buying it back after the rights issue.

Related posts:

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  2. HSBC 23-year low in Hong Kong
  3. HSBC Asian and London shares fall
  4. HSBC continues to slide to startling lows
  5. Will HSBC have answers about layoffs on Monday?

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2 Responses
  1. Google reprices 7.6 million employee stock options (AP) — But As For Me says:
    March 11, 2009 at 9:22 am

    [...] News Release - HSBC loses $37 billion in market value since last … [...]

  2. AIG chairman inherits retention bonus mess (AP) — But As For Me says:
    March 18, 2009 at 2:33 pm

    [...] News Release - HSBC loses $37 billion in market value since last … [...]

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