Identifier
Created
Classification
Origin
09HONGKONG115
2009-01-16 12:13:00
UNCLASSIFIED
Consulate Hong Kong
Cable title:
HSBC Doubts Hurt Hang Seng
how-toVZCZCXRO8830 RR RUEHCHI RUEHCN RUEHDT RUEHGH RUEHHM RUEHNH RUEHVC DE RUEHHK #0115 0161213 ZNR UUUUU ZZH R 161213Z JAN 09 FM AMCONSUL HONG KONG TO RUEHC/SECSTATE WASHDC 6680 INFO RUCNASE/ASEAN MEMBER COLLECTIVE RUEHOO/CHINA POSTS COLLECTIVE RUCPDOC/DEPT OF COMMERCE WASHDC RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS HONG KONG 000115
SIPDIS
STATE FOR EAP/CM AND EEB/OMA, TREASURY FOR OASIA
E.O. 12958: N/A
TAGS: ECON EFIN EINV ETRD HK CH
SUBJECT: HSBC Doubts Hurt Hang Seng
UNCLAS HONG KONG 000115
SIPDIS
STATE FOR EAP/CM AND EEB/OMA, TREASURY FOR OASIA
E.O. 12958: N/A
TAGS: ECON EFIN EINV ETRD HK CH
SUBJECT: HSBC Doubts Hurt Hang Seng
1. The Hang Seng Index closed Friday, January 16 at 13,255.51, down
12.55 points today with a daily trade of HKD 49 billion. The Index
continued its slide, falling 1121.93, or 7.8 percent, this week.
Both Morgan Stanley and Goldman Sachs issued reports this week
predicting HSBC, Hong Kong's biggest bank and the largest
constituent stock on the Hang Seng Index, would need to raise
capital to bolster its capital adequacy ratio. HSBC shares dropped
below HKD 65 this week, the bank's lowest level in the past decade.
HIBOR remained low. Overnight and one-week rates, as reported by
Hang Seng Bank today, stood at 0.1 percent. One-month and
three-month rates were 0.2 percent and 0.85 percent respectively.
SIPDIS
STATE FOR EAP/CM AND EEB/OMA, TREASURY FOR OASIA
E.O. 12958: N/A
TAGS: ECON EFIN EINV ETRD HK CH
SUBJECT: HSBC Doubts Hurt Hang Seng
1. The Hang Seng Index closed Friday, January 16 at 13,255.51, down
12.55 points today with a daily trade of HKD 49 billion. The Index
continued its slide, falling 1121.93, or 7.8 percent, this week.
Both Morgan Stanley and Goldman Sachs issued reports this week
predicting HSBC, Hong Kong's biggest bank and the largest
constituent stock on the Hang Seng Index, would need to raise
capital to bolster its capital adequacy ratio. HSBC shares dropped
below HKD 65 this week, the bank's lowest level in the past decade.
HIBOR remained low. Overnight and one-week rates, as reported by
Hang Seng Bank today, stood at 0.1 percent. One-month and
three-month rates were 0.2 percent and 0.85 percent respectively.