HSBC is trading at $88.46, up 4.79%, as banking stocks rally following US midterm results. - Reuters reported HSBC and other major UK banks rose between 3.6% and 4.8% as banking stocks climbed; expectations of a Bank of England rate hike were also cited as a factor. - Bloomberg linked European bank strength to reduced election uncertainty and lower bond yields. - No verified overnight company-specific announcement has been linked to the rise.