Market concerns pound participation in euro will drag HSBC

Hong Kong stocks was plagued by slackness recently, with red chips and state-owned stocks entering consolidation shape. Securities analysts pointed out that, though US Fed issued economic report indicating that the US economic growth rate was slowed down to 1.4% and another possible rate-cut in late June will stir the economic growth, the market still worried that the possibility of pound¡¦s participation in euro would bring pressure to HSBC Holdings (0005), which is expected to announce worse-than-expectation interim earnings in August, and accordingly the broad market would continue the declining trend.

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