Market Outlook: Hong Kong nerves rattled further

Market Outlook: Hong Kong nerves rattled furtherMarket Outlook: Hong Kong nerves rattled further

At a press conference yesterday Liu Xiaoming, Britain’s Chinese ambassador, warned that Hong Kong cannot fall into a ‘’dangerous abyss’’ by protestors who are showing ‘’signs of terrorism’’. Adding that his government ‘’will not sit on its hands’’, that ‘’we are fully prepared for the worst’’ and that they have the ‘’power to quell unrest’’. Meanwhile it’s estimated that Hong Kong’s super-rich have lost the equivalent of US $15 billion recently, laying bare the huge increase in inequality in the territory since 1997. Now prominent HK activist Chen Haotian has urged citizens to withdraw all their bank deposits from commercial banks today, causing a run on financial services.
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