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Seems you can change your mind also, McKeown ‘decision to retire’ came at a time of varied allegations last year. A few cold months back in the UK, away from the “heat” possibly, a return to the low tax bliss on fat cat salary and missing the newly born grand children ? Yes, McKeown junior and wife were moved into highly paid HSBC HK positions and raced through the ranks some time ago,, maternity pay very favourable with blue chip employers in a tax haven !!
I think they’ve hit a sewer pipe in street, there’s an awful smell in the air
For anyone (including companies) "BETWEEN A ROCK AND A HARD PLACE" good choices do not exist - it is simply a matter of taking the least worst option.
I am sure many of us have been nursing significant "paper losses" since the beginning of this year, especially after the dividend was cancelled.
So what is now the least worst option?
We could sell and turn those "paper losses" into real losses;
We could buy more shares (funds permitting) to "average down";
We could be patient and hold on for now, hoping for better things to come (timescale unknown)!
Having previously seen significant drops in the share price, followed by a reasonable recovery, I am hopeful that this pattern will again be repeated, especially when some sort of dividends are eventually reinstated.
There is bound to be market - share price and exchange rate - volatility, which presents good short-term trading opportunities for the brave, but that is not for me.
Have a good week.
NETFLIX Dirty Money series, tells the whole story and has to be seen to be believed how they still exist today. Somehow I think they will not get away with further indiscretions but after watching this you’d believe anything.
A must watch for anyone who has curiosity around HSBC and whether you want any association whatsoever. The future monitoring of their conduct is my question, there are so many sub plots to a potential ,second series !!
Absolutely, and the choice the UK government has this week is to revise its decision to allow Huawei to be involved in the UK 5G roll out. I understand that GCHQ has now revised its position on Huawei. It is questionable as to why Boris ignored calls at the outset to prevent Huawei participating in such a strategically important communications network.
Correct me if I'm wrong HKtruth, but was HSBC found guilty a decade or so ago of aiding Mexican drug cartels to transfer money?
HSBC made one when US asked about Huawei and has made another, there is always a choice and you must live with the consequences.
A detailed account of the one they have now made below. They played the Western card to safeguard coveted USD licence, we had no choice was apparently message to Beijing.
HSBC has a history of doing whatever it takes, as has been seen with the multitude of misdemeanours and poor decisions made globally. The penalties have by no way matched the crimes and the only thing they have feared is the DPA - deferred prosecution agreement. The US effectively threatening to shut them down, but my understanding is the policing of their activities in HK was undertaken by the Hong Kong Monetary Authority HKMA. What interest did the HKMA have in finding them guilty of anything and as this DPA is still in existence, as continued longer after last review, what will China’s local regulator decide next time around ?
Does the US, the West, now continue with this form of policing ? Anyone thinking fox in charge of the hen house ?
Once again, excellent point HKtruth. I'm going to be very cautious with regards to buying back into HSBC, I'm tracking RDSB & BP (looking to top up my holdings).
With Covid 19 infection levels continuing to rise (sadly) in the USA and real concerns of a second wave of infections in the UK, markets will remain volatile imho.
Have a good weekend.
Remember, all eggs are going in the Asia basket, once 35,000 Jobs are culled in rest of world.
Reaction of US and UK to HSBC declared political stance will be interesting as matters evolve, as will Chinese regulators seeing an outsider seeking profit in their market. Takeover talk excite anyone ? I’m sure HSBC would not surprise anyone with announcement of deal done, would they ?
Just remember what HSBC letters stand for, the B isn’t for Birmingham HQ
Market will move a week ahead of that date then !!
Coca Cola HBC a recent example of that, suddenly a week before Q1 results the SP tanked and COVID blamed, odd how virus threat escalated the week before impact for whole quarter was shared ??
Don’t expect a dip ahead of results to guarantee a bounce back
HSBC Interim results to 30 June 2020 are expected on 3 August 2020.
I was undertaking some property work today & thought to myself I must check when Q2 results are due! Does anybody know the date?
You are spot on HKtruth, I need to be careful with buying back in, I'm expecting a down leg when Q2 results are issued.
I should declare I'm no fan of HSBC in the UK, when I worked in Fin Services, they messed me & my business partners around, fortunately we had shareholders with deep pockets. Once everything was sorted we got a warehouse line from Barclays & forgot about HSBC.
Beware the Q2 results and the BS that will surround them. Expect worst as Quinn very quickly abandoned the caring approach about redundancies during COVID. The border with China remains closed at least another month, the whole of Q2 was case whereas Q1 saw early weeks bullying of staff in new sales year to grab mainland money. The new low saw large money come for the stock but will/can that be repeated if tested again ? Market swings around broader economics prevailing but be sure to take a close look at how well HSBC is actually fairing during these times.
Thanks.....I could not see it going up beyond 390p. I will be back in it it falls to low 370's.
Seems you did very well judging by the fall today. This is also exactly what I was referring to as a ceiling instead of a floor the other day, every time the share has a decent day, there is heavy selling bringing it lower straight away.
I've sold my HSBC holdings this afternoon, made a small profit, I prefer to be in cash for now.
Good luck to all HSBA shareholders
My own good coronavirus run has included Shell, Occidental (Oxy) and Hess within oil sector, latter a good long term I understand. Namibia sounds interesting, nice place for a field trip to celebrate if comes off !!
I adopted my username because my best share investment (by far) has been an oil & gas company, I've held it for 10 years & it will pay its maiden dividend on 24th of this month. Also hold a "wildcat" explorer which has licences in offshore Namibia, that's not one for widows & orphans! Thinking of offloading my HSBC shares shortly to buy RDSB if it falls below £12.00.
Not familiar with Oxy, sticking to a handful of shares for now & buying where I feel a share has been oversold. Got into HSBC as a trade when it dropped to 373p.
Enjoy reading your insightful posts on HK / HSBC.
For sure and already suggestions but most of locals prefer mainland Wechat over WhatsApp already anyway. Name might not be known to those in UK but has something like 10;1 users compared to Facebook’s What’s App, the economies of Asian scale and a better all round proposition I believe and Zuckerberg has challenges from all sides at present. Switching subject and your name, what’s the deal with oil companies at present, ? Easy answer is demand due to virus but oil Prince and companies seem oddly detached ? As are opinions around Oxy, next for certain bankruptcy or future superstar with so many advantages in the Permian basin ? Thoughts ?
35% is good going HK; well done.
Started trading on 12 March after everything collapsed.
Trading HSBC, AV, LGEN, BT at moment.
Previously done very well too with GLEN, RDSB & IMB
If market say trade, you trade
If market say invest long term, then do it
Work whatever market you are presented with HK
Back in the 1990's I recall that the HK were buying up so much property in Vancouver.
As China's grip on HK tightens, will we not see China's censorship of the internet / social media extended to HK? Will this not be a "push" factor going forward?
There is a very interesting documentary by one of the Australian networks sure to be on YouTube that talks of 100,000 (yes !!) Chinese millionaires that went to Canada, and pretty sure it was Vancouver. Those kinds of volumes and associated wealth makes it a very different proposition, a select community operating within another, that could go either way. Do 3 million HK have that wealth ? No, there will be some but a wide cross section. As already suggested, I don’t see it happening in reality.
Interesting post HKtruth regarding Boris's offer. I travelled to Vancouver in the early 1990's and noticed the influx of HK, I initially thought that Boris's offer could see a similar influx to the UK but your insightful views now provides me with a different perspective.
I bought in at 373p, looking to sell at 390p - 400p, hopefully !!
Good man, volatility the trader’s friend for now, as markets no idea where to go. I’m circa 35% up in 4 months so struggling with any kind of conventional wisdom.....
My 381 looking ok ,so far, HK
Miffed i didn't top up yesterday @370 tho
Remember, i'm a trader. Trading the high's & low's
Hoping for a run up to £4; 428 less than a month ago......
Some very large buys indeed, not entirely sure how that works, but you’d think word would have got out and such support would have seen a positive day ensue and not below the support level ? By time market open to retail buyers again, will the SP have surged and how does that make retail buyers in wait feel ? No message passed to HK traders is so, shares opened up just over 1% only and behind Hang Seng index in first hour
A lot of after hours trades reported...including 3 trades of £18m value, consisting of 4.7m firstname.lastname@example.org each, which was the morning opening price...