Bolton doubles stake in HSBC

Fidelity's Anthony Bolton has doubled his holding in banking giant HSBC within his China Special Situations investment trust.

Bolton, who has backed the bank throughout much of the year, doubled his position from around 2.5% in August to 4.9% by the end of September. The move makes HSBC Bolton's second largest holding in his investment trust and comes following a sell-off in the bank's shares. Amid a decline in banking shares across the globe, HSBC's Hong Kong listed shares are down around 22% in the last six months, currently trading at 65.45 Hong Kong Dollars. Meanwhile in London, shares are off around 20% compared to six months ago, trading at 530p currently, down from 658p. However, they have recovere...