declined more than 1% after Goldman Sachs cut its price target for the stock by 10%, according to Reuters. The lender's stock has slipped in the past few days. Australia's anti money-laundering and terrorism financing regulator filed for civil penalty orders against the firm, alleging its "oversight of the banking and designated services provided through its corresponding banking relationships was deficient.
The matter has been further complicated by U.S. legislation on Hong Kong, which has been rocked by months of protests. The U.S. House of Representatives passed a bill on Wednesday intended to support protesters in Hong Kong. It prompted Beijing to accuse the U.S. of interfering in domestic affairs. U.S.
"They have threatened forceful measures if the bill is signed so expect to tensions to escalate when that happens," Lien said.
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