StanChart shares post biggest ever intraday fall in HK

STANDARDCHARTERED-SHARES-HK:StanChart shares post biggest ever intraday fall in HK

Shares of Standard Chartered <2888.HK> lost over a fifth of their value in Hong Kong after New York's top bank regulator threatened to strip it of its state banking license over financial transactions tied to Iran.

StanChart shares, which trade at premium valuations to peers such as HSBC Holdings, fell as much 20.7 percent at one point. They were last trading down 16 percent in Hong Kong and had plunged into negative territory for the year.