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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (12909)	10/23/2011 4:04:59 AM
From: John Pitera	Respond to of 33421

HSBC is was founded in 1885 in Hong Kong by the British, they showed poor timing in HSBC holdings HQ is now in London. The creation of the HSBC Group In 1980, the Bank, now under the chairmanship of Michael Sandberg, acquired a 51% stake in Marine Midland Bank, of the United States of America, and continued its expansion with the establishment of Hongkong Bank of Canada in 1981 and HongkongBank of Australia Limited in 1986. 1987, under the Chairmanship of William Purves, saw the bank's ownership of Marine Midland Bank increased to 100% and the acquisition of a 14.9% share in Midland Bank in the United Kingdom. The present building in Hong Kong was designed by Sir Norman Foster and was held as one of the most expensive and technologically advanced buildings in the world in 1986, costing HK$5.3 billion. In 1991 HSBC Holdings plc was established to act as a parent company to the group; shares are currently traded on the London, Hong Kong, Paris, New York and Bermuda stock exchanges So they are a global bank with various exposures. Standard Chartered also get most earnings from a variety of waystations around the globe. The Shanghai Composite did make 2 1/2 years lows the past week or two, so we've seen some weakness in China. The Australian Banks do a good job of staying out of trouble. John