Hong Kong stocks tumbled Tuesday as protests that have jolted the city for more than two months fuel political and economic uncertainty, with China’s growing frustration leading to worries it will take a tougher line with the standoff.
Hundreds of flights were still listed as cancelled at the airport, one of the world’s busiest, and protesters called for a new gathering there later in the day. That came a day after China described violent protests as “terrorism,” which analysts said raised concerns among investors. It had already lost almost five percent on Monday after Beijing banned airline staff supporting Hong Kong protesters from flights going through the mainland. Cathay parent Swire Pacific was down 1.17 percent Tuesday, a day after losing more than six percent.
There were also big losses for property giants. Sino Land shed almost two percent, Henderson Land fell 1.6 percent and New World Development was off more than one percent.