Shares in HSBC Holdings PLC hit a 25-year low, after news articles detailed “suspicious activity reports” filed by it and other major banks to U.S. authorities, putting fresh pressure on a stock that has already dropped sharply this year.
By midafternoon in Hong Kong on Monday, the bank’s Hong Kong-listed stock had fallen 3.6% to 29.80 Hong Kong dollars, the equivalent of $3.85, after earlier trading as low as HK$29.60. HSBC stock hasn’t traded below HK$30 a share since May 1995, FactSet shows.
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