A South Korean court on Tuesday acquitted HSBC on charges of violating the country's short-selling rules, the Yonhap News Agency reported. The Hong Kong unit of the bank was charged with illegal short-selling worth nearly 16 billion won ($11.

The South Korean legal system discharged HSBC Holdings Plc of all the charges that it made in relation to illegal short selling.

Seoul Southern District Court ruled that HSBC's Hong Kong subsidiary was not guilty of alleged short-selling rule violation, Yonhap News Agency reported. No evidence showed that HSBC employees knew of possible violations before conducting short sales.

SEOUL (Reuters) - A South Korean court on Tuesday acquitted HSBC on charges of violating the country's short-selling rules, the Yonhap News Agency reported. The Hong Kong unit of the bank was charged with illegal short-selling worth nearly 16 billion won ($11.01 million) by the prosecution, the report said. ($1 = 1,452.9800 won)

HSBC, the Hong Kong-based banking unit, was cleared of charges related to violation of short-selling rules in South Korea, as per a court official on Tuesday.