Lehman's Hong Kong Chaos

Filed in archive News on September 17, 2008

CNN Money ran a piece yesterday on the chaos that the collapse of Lehman Brothers brought to Hong Kong...

Lehman Brothers Holdings Inc. (LEH) suspended trading, investment banking and brokerage operations in Hong Kong - throwing its clients into disarray as markets fell sharply.

While Lehman plans to maintain business in its asset management arm, the Hong Kong's securities regulator, the Securities and Futures Commission, said the Lehman asset management arm couldn't pay out any of its own funds.

Lehman's bankruptcy rattled markets globally and Hong Kong's blue-chip Hang Seng Index was off 5.9% at 18,210,49 at the midday close.


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