Hong Kong's share index lost almost 3% as unrest in the Asian financial hub...
HONG KONG - Hong Kong’s share index lost almost 3% as unrest in the Asian financial hub worsened on Monday, with police firing live rounds at anti-government protesters on the eastern side of island and firing tear gas at protesters in the Central business district.
Investor sentiment suffered after a police officer shot and wounded one protester before trading commenced. The market had already been set for a shaky start after U.S. President Donald Trump said on Friday he has not agreed to roll back tariffs on Chinese goods as Beijing suggested last week.dropped the most among major Asian markets and stooped below the 27,000 points barrier for the first time since Nov. 1. The index finished the session down 2.6%. It has declined 1.
Some interbank lending rates HIBOR=shot up to near three-month highs and the forwards market HKD1Y=braced for more weakness for the Hong Kong DollarHowever, while the shooting dented sentiment on Monday, share prices will likely run unscathed from social tensions because the market is dominated by Chinese companies “which are not directly impacted by the local situation,” said Anthony Chan, chief Asia investment strategist at Union Bancaire Privée.
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