Tuesday, March 10, 2009

It's what they train for

http://www.breitbart.com/article.php?id=CNG.d72dee6b34ee20d4e72e635602e707b3.691&show_article=1


A veteran Hong Kong stock commentator burst into tears during a live television broadcast as she saw HSBC's shares plunge dramatically seconds before the end of Monday's trading

Agnes Wu's comments on the recent volatility of the banking giant's Hong Kong-listed shares trailed off as she saw its price slump to 33 Hong Kong dollars (4.23 US) after a last-minute sell order, a clip on Cable News showed.


The order almost doubled the size of Monday's fall for shares in HSBC, which ended down 24.1 percent, its largest one-day fall on the Hong Kong bourse.

Wu and the anchor of the show were both wide-eyed and they shouted out the closing price in surprise. She was unable to continue talking and shook her head for a few seconds.

The normally tough commentator then started to sob and said: "It's a heart-wrecking fall."

She then wiped her right eye, but remained silent until the live show ended.

Wu later told The Standard newspaper she does not hold shares in the financial heavyweight. She explained she could not help bursting into tears because she felt it was unfair for big players to bully small investors.

She said HSBC's share plunge was the result of short-sellers who wanted to drive down the price and snap up shares after the bank completes a 17.8 billion US dollar rights issue, according to the newspaper.