HSBC returns to favour with biggest weekly gain in years
HSBC Holdings appears to be back in the game. Despite being a heavyweight on the Hang Seng Index, the bank's share price had lagged far behind most blue chips, which have surged in recent weeks.
HSBC had been battered by concerns over its US subprime exposure, as well as uncertainties created by an activist shareholder's campaign in the past month.
But the bank appears to have rallied. Shares were up more than 6 per cent this week, HSBC's biggest weekly gain in four years.
We hope it's a sign of investor confidence that the bank will be able to weather its recent troubles. Then again, given the way the market has been going, it could just be that punters are bidding up everything they can get their hands on.
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