Hong Kong stocks dive as protests rumble, China anger builds | The Guardian Nigeria News - Nigeria and World News

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The long-running demonstrations have had an impact on the city's economy, with the crucial shopping sector being hammered -- data showed retail sales sank a much more than expected 6.7 percent on-year in June. HongKong

The increasingly violent unrest in the key financial hub comes as world markets are hit by fears about the global economy and dimming hopes for trade talks between China and the United States.

The abrupt closure came 10 weeks into a crisis that has seen millions of people take to Hong Kong's streets in the biggest challenge to Chinese rule of the semi-autonomous city since its 1997 handover from Britain. Stephen Innes, the managing partner at VM Markets, said:"Dropping the 'T' word is particularly disturbing as it does suggest a more aggressive mainland response, which triggered a wave of risk aversion across global markets."'Situation will get worse'

MTR Corp, which runs the city's subway network that has seen a number of high-profile violent clashes between protesters and police, was down 3.14 percent.

 

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