HSBC shares continue free-fall
21-01-2009
HSBC shares continued their free-fall Tuesday with another 7.7-percent decline. It slumped to a ten-year low of $57.50. The stock has fallen by a massive 25 percent since last Monday. This is despite assurances HSBC made yesterday that it's one of the "strongly capitalised" banks in the world and it didn't need British government handouts. The former Chairman of HSBC in Asia-Pacific, David Eldon, says even if the bank needed capital, it wouldn't opt for a government injection.
