Household HSBC Watch

Friday August 19, 9:57 AM On Thursday, shares of HSBC Holdings — the biggest company by market capitalization on Hong Kong’s exchange — closed at HK$126.80 (US$16.32), or 4.7% below the start of 2005. During that time, the Hang Seng Index has risen 6.1%. Of the 33 stocks in the index, HSBC has been 2005’s worst performer. While the U.K.-based banking behemoth, which also has stock listings in New York, London and elsewhere, has one of the best long-term records among Hong Kong blue-chip issues for steady earnings growth and share-price appreciation, many investors have been looking elsewhere.