South Korea reportedly sued HSBC Hong Kong and three traders for short selling of more than 90 million yuan without goods

According to multiple media reports, the Prosecutor's Office of the Southern District of Seoul, South Korea announced today that they will file a lawsuit against HSBC Hong Kong and three traders, accusing them of illegal short selling of stocks. The amount involved in this case exceeded 90 million, which caused widespread concern in the market.

It is reported that South Korean prosecutors accused HSBC's Hong Kong subsidiary and three traders of conducting a transaction worth 15.8 billion won in 2021, suspected of violating local securities laws. The accusation raises questions about the well-known financial institution's business practices.

As an internationally renowned bank, HSBC Hong Kong has always attracted much attention. However, the alleged illegal short selling of stocks has raised questions about its business ethics. This also reminds other financial institutions to strictly abide by local laws and regulations to avoid similar incidents from happening again.

The development of this case will further affect HSBC Hong Kong's business development in South Korea. The company will need to face challenges from local regulators and investors and may face corresponding legal sanctions. This also reminds other financial institutions to strengthen internal supervision to avoid similar risks.

Overall, this illegal short-selling case involving HSBC Hong Kong and three traders has attracted widespread attention and discussion. This also reminds financial institutions to strictly abide by laws and regulations and maintain good business ethics to maintain market order and the rights and interests of investors.