Intel stock spikes after report of possible US government stake
Investing.com -- HSBC, the Hong Kong-based banking unit, was cleared of charges related to violation of short-selling rules in South Korea, as per a court official on Tuesday.
The bank was previously accused of illegal short-selling activities worth approximately 16 billion won ($11.01 million), as reported by the Yonhap news agency. The charges were laid by the prosecution, alleging that HSBC had breached the country’s regulations on short-selling.
However, the Seoul Southern District Court ruled that there was no evidence to support the claim that HSBC employees knowingly broke these rules by conducting short-selling activities, Yonhap said.
Alongside HSBC, three traders were also indicted by the prosecutors on charges of naked short-selling of stocks, it added.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.