Shares in HSBC jumped in Hong Kong on Tuesday, up 14% to HK$37.65 in late morning trade, reversing a late slide on Monday that HK’s government said is being investigated, reports Bloomberg. The slide may also hasten moves by HK authorities to impose a 2% cap on share-price fluctuations during closing auctions, it added. The FT reports that HSBC shares slid more than 24% to HK$33 in HK on Monday, amid talk that some investors were shorting the bank’s shares after a heavily discounted rights issue announced last week. But the shares closed down only 3.26% in London on Monday

This entry was posted by Gwen Robinson on Tuesday, March 10th, 2009 at 5:00 and is filed under Capital markets. Tagged with hsbc. Edit this entry.