Standard Chartered shares set to open up 5 percent on $340 million U.S. settlement

HONG KONG (Reuters) - Standard Chartered Plc's Hong Kong shares are expected to open 5 percent higher on Wednesday after the British bank agreed to a $340 million settlement with New York's banking regulator over allegations it hid Iran-linked transactions.

StanChart's swift settlement is expected to end one week of furor, which saw the biggest one-day slide in the British bank's Hong Kong shares last week. The stock is still down 7.5 percent before the allegations hit the bank last week.

On Wednesday, StanChart's shares were indicated to open at HK$174.10, while the benchmark Hong Kong share index was set to open down 0.82 percent.

StanChart reached the settlement on Tuesday.

(Reporting by Denny Thomas; Editing by Muralikumar Anantharaman)

Source: http://news.yahoo.com/standard-chartered-shares-set-open-5-percent-340-013100533--finance.html

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