HSBC hits a record low, Stanley stock Shen Zhang Chengguang once reduced Tencent's switch to HSBC, expected to be as low as 20 yuan

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Written by: Li Yinglin

2020-09-23 07:00

Last update date: 2020-09-23 07:00

HSBC Holdings (0005) was involved in the US money laundering scandal and may be included in the "Unreliable Entity List" by the Ministry of Commerce of China.

The stock price continued to sink and fell to 28.7 yuan yesterday (22nd), the lowest in 25 years.

Zhang Chengguang, the "Stanley Stock God" who was once the largest retail investor of Tencent (0700), had reduced his holdings of Tencent to buy HSBC three years ago. In an interview with "Hong Kong 01", he said that he no longer holds HSBC, about six months ago. It is predicted that it will fall below 30 yuan. If you can't see the future, I believe it will continue to fall to 20 yuan.

"Stanley Stock God" Zhang Chengguang.

(Provided by interviewee)

Once Tencent's largest retail investor reduced holdings and made profits and then switched to HSBC

"Stanley stock god" Zhang Chengguang won the "18" license plate for nearly 17 million yuan in 2008. He is Tencent's largest retail investor and once reduced his holdings of "Shihu" to make a profit. In an interview with the media in 2017, he pointed out that he was heavily reduced his holdings of Tencent. Later, use part of the funds to buy HSBC.

Tencent has risen from more than 250 yuan three years ago to more than 500 yuan. On the contrary, HSBC has dropped from 60 to 80 yuan from 2017 to 2018 to 28.7 yuan at the close of the market on Tuesday (22nd), the lowest in 25 years.

50 to 60 yuan price short-term speculation profit is now no holdings

Zhang Chengguang told the "Hong Kong 01" reporter that he still holds hundreds of thousands of Tencent shares, but no longer holds HSBC.

He pointed out that the purchase of HSBC was only a short-term speculation for a few months. "Ten thousand (shares), ten thousand dollars, at least 60 yuan."

Zhang Chengguang said that about two years ago, it was learned that HSBC began to terminate the accounts of many merchants who had opened accounts for many years on the grounds of "account problems". He believed that the bank should not drive away merchants who "want to do business". Get involved in HSBC.

Tencent's share price has stabilized above 500 yuan.

(Data Picture / Photo by Deng Qianying)

Early predictions fell below 30 yuan

Looking at the information, HSBC was fined US$1.9 billion in 2012 for the US money laundering case, and cancelled many accounts in the following years.

The then Secretary for Financial Services and the Treasury, Liu Yixiang, once said that in many cases the bank suspected that the account was involved in suspicious transactions, but the situation was not a phenomenon of the entire industry.

The board of directors of HSBC Holdings announced at the end of March this year that in response to the requirements of the British regulatory authorities, it would cancel the distribution of dividends. Zhang Chengguang pointed out that about six months ago, HSBC's share price had been predicted to fall below 30 yuan.

In addition to the recent news of HSBC's money laundering case, the mainland "Global Times" also quoted news that HSBC may be included in the "List of Unreliable Entities" by the Ministry of Commerce of China. Zhang Chengguang believes that the incident will have a great impact on HSBC and believes its share price Will continue to fall: "It must see 20 yuan."

HSBC Holdings shares continued to sink to the bottom, closing down to 28.7 yuan on September 22.

(Photo by Lu Yiming)

Can't see the future

Zhang Chengguang bluntly said that he does not see HSBC's prospects at the moment, and as an investor, he "will not be frustrated."

As for whether investors holding HSBC should sell the stop loss, he emphasized that the current selling loss is at least half, and it may not be able to sell smoothly. He believes that investors can only "fight for a long time" with HSBC.

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