Standard Chartered Bank (2888.HK)

Obama is proposing a list of new restrictions that basically shut down a number of major profit sources of big banks. No prop desk, no 'sponsoring' of hedge fund...
Does it mean JPMC, ML, GS need to stop their prime brokerage business?

Back to Asia, all markets dropped as a result of the big drop happened in US last night.

Standard Chartered Bank (2888.HK) dropped by 5.5% this morning and I see this a good opportunity to accumulate this stock.

Standard Chartered Bank is not a US bank, its business mainly concentrate on emerging market in Asia, and more and more hedge funds are coming to Asia (most recently Soros), if US banks cannot provide prime brokerage service, the hedge funds guy can to to Asian banks and Standard Chartered Bank will benefit with it strong presence in HK and Singapore, and growing presence in China. In fact, it has just been granted a market maker license in China in the bond market, which itself is a fast growing sector in China.

I will start accumulating this stock, half day closed at HK$108.6, which is even lower than the point when Dubai crisis broke out.