HSBC plunges 24 pct in Hong Kong

Bloomberg

The shares fell 24 percent to HK$33 at the 4 p.m. close, the lowest since May 1995. HSBC, Europe’s largest bank, has lost 42 percent since announcing on March 2 that it will raise 12.5 billion pounds ($17.6 billion) in a rights offer at the equivalent of HK$28 apiece.