NEW YORK (TheStreet) -- HSBC (HSBC) - Get Report stock closed up 2.26% to $32.18 in Friday's trading session after the Justice Department ended an antitrust investigation into precious metals trading.
The London-based financial services company is one of at least 10 banks that were part of a DOJ probe into alleged manipulation of precious metals prices, Bloomberg reports.
Prosecutors are still conducting a separate criminal fraud investigation, Bloomberg notes.
Additionally, HSBC on Monday reported a fourth quarter pre-tax loss of $858 million, significantly lower than the $1.95 billion profit anticipated by analysts. The company had reported profit of $1.7 billion in the year-ago period.
The weak financial results underscored investors' concerns about United Kingdom-based banks' exposure to Asia and to China in particular, Real Money's Antonia Opritawrote in an article earlier this week.
HSBC's exposure to mainland China is roughly $143 billion, of which $135 billion are loans to banks or non-financial businesses, sovereign loans and corporate loans, she explains. About $8 billion are loans to retail clients.
HSBC would typically be sheltered from China fears since it's located in London, "but with uncertainty in the U.K. rising because of the referendum on EU membership, expect a few particularly volatile months ahead for HSBC and Standard Chartered," Oprita continued.