Shares of Standard Chartered in Hong Kong drop to two-week low
HONG KONG – Share of Standard Chartered plummeted over 6 percent in Hong Kong to a two-week trading low after third-quarter results came below forecasts and the company confirmed a Hong Kong investigation.
Standard Chartered shares in London has fallen 5.4 percent.
On Tuesday, the bank’s chief executive Bill Winters branded its income and profit unacceptable as below-forecast third quarter results and confirmation of a Hong Kong investigation underlined the challenges his overhaul faces. -Reuters