The placement came on August 9, almost immediately after the lunch break. In the morning the Hang Seng Index had recovered some of the ground it had lost earlier and seemed to be continuing the upward momentum from the previous trading day.
By the afternoon the situation changed dramatically and markets plummeted. The trigger was a plunge in European markets, marked by BNP Paribas freezing three funds exposed to the US subprime mortgage market. The Hang Seng Index...
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