Director/PDMR Shareholding

HSBC Holdings PLC
18 January 2008

 NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
                            AND/OR CONNECTED PERSONS



This notification relates to a transaction notified in accordance with DTR 3.1.2
R and 3.1.4 R (1)(a)


1      Name of the issuer
       HSBC Holdings plc
2      Name of the person discharging managerial responsibilities or, where applicable, the name of the
       person connected with a person discharging managerial responsibilities
       V C H Cheng, a person discharging managerial responsibilities
3      Description of shares (including class), debentures, derivatives or any other financial instruments
       relating to shares
       US$0.50 ordinary shares
4      State the nature of the transaction
       Acquisition /scrip dividend
5      Number of shares, derivatives or any other financial instruments relating to shares acquired
       1,225
6      Number of shares, derivatives or any other financial instruments relating to shares disposed
       N/A
7      Price per share or value of transaction
       US$16.821
8      Date and place of transaction
       16 January 2008, Hong Kong
9      Date issuer informed of transaction
       16 January 2008
10     Name of duly authorised officer/official of issuer responsible for making notification
       Nicola Black, Assistant Secretary, 020 7991 2652
11     Date of notification
       18 January 2008




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