Shares of Singapore banks were hit on Monday amid a broader market selloff, on the back of escalating trade tensions between the US and China and intensifying unrest in Hong Kong.SHARES of Singapore banks were hit on Monday amid a broader market selloff, on the back of escalating trade tensions between the US and China and intensifying unrest in Hong Kong.
"The Hong Kong situation will be able to be addressed between both the authorities and people in Hong Kong," said Mr Tsien, who was born in Shanghai, but grew up in Hong Kong."We continue to feel that they will have the ability to address their concerns." "In the afternoon, when protests began to take place at some locations, nine bank branches and seven OCBC Wing Hang Credit branches in these locations had to close one to two hours earlier to ensure the safety of our customers and employees. We asked our employees to leave earlier as longer travel time may be needed to reach home. For colleagues who had to stay to perform critical banking operations, we arranged for cars to bring them home after work.
The clashes have already hurt the economy. Hong Kong's whole-economy purchasing managers' index for July plunged to its lowest reading since March 2009, data from IHS Markit showed on Monday.
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