European banks, including HSBC and BCS, rallied after the first round of U.S. stress tests. The banks affirmed that they "over estimated" the amount of capital needed to pass the tests. The close on May 8th was the highest for HSBC since mid-Janruary.
Morgan Stanley reports that HBC needs another $20 - $30 billion in capital, and will halve is dividend.
the share price of 2008
the news of HSBC in 2008