“Shares of HSBC Holdings PLC fell on Thursday following a report that the banking giant may have overstated assets by as much as $92 billion. Analysts Thomas Monaco and Andrew Haskins at Forensic Asia initiated coverage of HSBC with a sell rating due to concerns over earnings presure and dilution from capital increases. ‘HSBC Holdings has overstated assets at the major subsidiary level to the tune of US$63.6 billion-US$92.3 billion, by our calculation, amounting to between five and seven years of results,’ said the analysts in a report released earlier this week.”
http://www.marketwatch.com/story/analyst-says-hsbc-overstated-assets-by-billions-2014-01-16
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