HSBC Shares Plunge After Third-Quarter Results
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HSBC Holdings (0005) saw its shares fall sharply after announcing its third-quarter results on Tuesday, dropping 5.56% in a single day to close at $134.3, with trading volume surging 227.47% compared with an ordinary day. Lo Chun Hong noted that the price structure after the sharp drop on heavy volume is clearly different from previous instances and warrants attention, and believes HSBC has broken below its uptrend, increasing uncertainty.
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- 明報·每日經濟Lo Chun Hong: HSBC Breaks Below Uptrend as Uncertainty Grows
HSBC Holdings (0005) fell sharply after announcing its third-quarter results on Tuesday, dropping 5.56 per cent in a single day to close at $134.3, with turnover surging 227.47 per cent from its usual level. Lo Chun Hong noted that the price structure after the sharp drop on heavy volume is markedly different from previous instances and warrants attention.
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