Hong Kong stocks tepid after violence hammers markets

2019-11-12 19:58:18CGTN Editor : Feng Shuang ECNS App Download

Hong Kong stocks inched up slightly Tuesday, a day after recording their worst day in months as violence escalated in the city.

The Hang Seng Index (HSI) closed at 27,065.28, up 138.73, or 0.52 percent, Tuesday. On Monday, the index recorded its worst single-day percentage loss since the beginning of August, of more than 2.6 percent drop.

The violence and unrest that have haunted the Hong Kong Special Administrative Region (HKSAR) for nearly five months just got uglier. Rioters set a man on fire in Ma On Shan area on Monday. The man reportedly disagreed with radical protesters and expressed an opposing view.

The HSI has dropped about 6.4 percent since the beginning of July, August was the worst month since the protests started, of 7.39 percent drop.

The ongoing violence and unrest have severely harmed the city's key sectors and worsened its business environment.

The SAR's government has taken measures to curtail these side effects to the city's economy, though negative growth for the full year has been expected.


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