Sell Standard Chartered says HSBC

Pulling no punches, HSBC warns about owning rival StanChart''s ''overvalued'' stock.

Imagine if Arsenal were to write a report on Manchester United. In Hong Kong's banking scene, the nearest thing to that would be HSBC writing a report on its close local rival, Standard Chartered.

Well thanks to StanChart's recent Hong Kong listing, such a thing just came to pass yesterday Thursday.

As you would expect from two rivals, no punches were pulled. HSBC Securities initiated coverage on StanChart with a resounding 'sell' - and did so in...

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