Monday, September 21, 2020 8:54 AM EDT
Shares of HSBC Holdings Plc (HKSE: 0005.HK) (NYSE: HSBC) 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.
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.
Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") ...
more
Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:
This is a marketing communication. The content is published for informative purposes only and is in no way to 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 that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
Any investment decision is made by each client alone whereas Admiral Markets Group AS investment firms (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
The Analysis is prepared by an independent analyst (hereinafter "Author") based on the Author's personal estimations.
To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.
less
How did you like this article? Let us know so we can better customize your reading experience.
