STOCKWATCH: HSBC can be accumulated at low

HSBC Holdings (0005) has recently displayed symptoms of rebound. The plunge of this morning is obvious a result of the broad market decline. Short-term tendency is still weak in the charts and turnover low, power of rebound limited. However, with general anticipation of rate-cuts and a gradually acquired stability, if there should be no further unfavourable news, there would not be too much room for further fall. Absorption at low for intermediate-term investment possible. Stronger supporting position at HK$100.

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