MARKET TALK: HSBC +1.2%, May Test HK$80; 1H Results Eyed

28th Jul 2010 03:53

0253 GMT [Dow Jones] HSBC (0005.HK) extends recent gains, last +1.2% at HK$79.80, may test psychological HK$80 (last at this level end April) later in day; stock most heavily traded in HK with HK$745.2 million, nearly 7% of market total. HSBC tracking gains in ADRs, London-traded shares, on sector rally due to news Basel 3 proposals watered down. Next key event interim results due Monday; this set of results likely to show HSBC's nightmare that is U.S. operations - chiefly HSBC Finance (previously Household International) - is over, yet quality of bank's earnings recovery will be keenly watched. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 27, 2010 22:53 ET (02:53 GMT)