HSBC, Standard Chartered Lead Asia Bank Rout as U.K. Votes ‘Out’
- Japanese banks tumble as yen’s surge triggers equity rout
- Banks have warned of U.K. job cuts in case of Brexit
Wheeler: European Banks Long on Liquidity for Brexit
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U.K. lenders HSBC Holdings Plc and Standard Chartered Plc plunged in Hong Kong trading, leading Asian bank shares lower as Britain’s vote to exit the European Union touched off turmoil across financial markets.
HSBC fell as much as 11 percent, its biggest decline since 2009. Standard Chartered slid as much as 13 percent, the most since 2012. London-based insurer Prudential Plc tumbled 11 percent. The Hang Seng Index was down 4.7 percent as of the midday local-time break in trading.