(Finance) – Bad day for HSBC Holdings, which is trading down 0.37% in London, after the British bank’s shares lost around 3% on the Hong Kong stock exchange. Rumors relating to a sale of shares by the main shareholder Ping An Insurance play a role.
The company, Bloomberg reports, is considering further reducing its stake in HSBC, with a sale of a block of shares, which follows the sale of a package worth $50 million announced last week, with which the shareholding is was cut to 7.98% from the previous 8.01%.
With the sale of shares, Bloomberg reports, a sovereign fund or other rich Middle Eastern investor could enter the capital.
The trend of the HSBC stock analyzed on a weekly basis shows a similar trend to that of FTSE 100. The medium-term status reiterates the positive phase of the banking and financial services companies. However, when analyzed in the short term, HSBC Holdings highlights a less intense trend than the bullish trend at the test of the top 7.019 pounds. First support at 6.871. The technical implications favor a bearish development in the short term towards the imminent bottom estimated at 6.804.