HSBC collapses in Hong Kong under pressure from several fronts

0
56
HSBC collapses in Hong Kong under pressure from several fronts

HSBC collapses in Hong Kong under pressure from several fronts

HSBC collapses in Hong Kong under pressure from several fronts

Shares of HSBC Holdings Plc plummeted this morning on the Hong Kong Stock Exchange by 4.4% to their lowest level since 1995 and below their latest low in March 2009, closing at HK $29.60. The British bank also closed Friday’s session lower on the London Stock Exchange, with a 2.19% drop to 304 pounds.

Europe’s largest bank is facing several conflicts that have led to investor mistrust. In China, it is a candidate for the “list of untrustworthy entities”, according to Bloomberg, which means that the Chinese government has put this entity on a list of threats to national security.

These problems were exacerbated by the publication of a report by the International Consortium of Investigative Journalists that revealed that several banks have breached the basic regulations in the fight against money laundering.

All of this is added to the problems that the international banking sector is already dragging on due to low interest rates and the impact of the coronavirus pandemic.

HSBC CFD monthly chart

Source: Admiral Markets MetaTrader 5. HSBC CFD monthly chart. Data range: May 1995, to September 2020. Prepared on September 21, 2020, at 8 am. Keep in mind that past performance does not guarantee future profitability.

The monthly chart of the Contract for Difference (CFD) on HSBC, in dollars, clearly shows the minimum that the bank’s shares have marked.

If you want to invest in CFDs on HSBC and take advantage of the downtrend in its shares, you can open a live trading account with Admiral Markets UK Ltd. Just click on the following banner:

Trade Forex & CFDs

INFORMATION ON ANALYTICAL MATERIALS:

The data provided provides additional information on all analyzes, estimates, forecasts, forecasts, market reviews, weekly outlooks or other evaluations or similar information (hereinafter “Analysis”) published on the Admiral Markets website. Before making any investment decisions, pay close attention to the following:

1. This is a marketing communication. The content is posted for informational purposes only and should not be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on pre-dissemination of investment research.

2. Each investment decision is made by each client alone, while Admiral Markets UK Ltd (Admiral Markets) will not be liable for any loss or damage arising from such a decision, whether based on content or not.

3. In order to protect the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for the prevention and management of conflicts of interest.

4. The analysis is prepared by an independent analyst, Carolina Caro, SEO implementer (hereinafter “Author”) based on personal estimates.

5. While all reasonable efforts are made to ensure that all sources of content are reliable and that all information is presented, as much as possible, in an understandable, timely, accurate, and complete manner, Admiral Markets does not guarantee accuracy. or integrity of any information contained in the Analysis.

6. Any past performance or modelling of the financial instruments indicated in the content should not be construed as an express or implied promise, guarantee, or implication of Admiral Markets for any future performance. The value of the financial instrument may rise and fall, and the preservation of the asset’s value is not guaranteed.

7. Leveraged products (including contracts for difference) are speculative in nature and may generate profit or loss. Before you start trading, make sure you fully understand the risks.

Source : https://admiralmarkets.com/analytics/traders-blog/hsbc-stock-hong-kong