Shares of the Asia-focused bank tanked as much as 17% in early deals, sparking a temporary halt in trade, Reuters reported. The stock was 11.7% lower by 10:15 a.m. London time.
Shares of the Asia-focused bank tanked as much as 17% in early deals, sparking a temporary halt in trade, Reuters reported. The stock was 11.7% lower by 10:15 a.m. London time. Halford noted that China's commercial real estate sector "clearly has been problematic," but said that GDP in the country is forecast to bounce back around 5% within the next two to three years.
"China remains both a blessing and a curse for Standard, with the country's faltering economic recovery weighing heavily on these results," he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: