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Hong Kong protests: How it’s affecting markets
As leaders of Occupy Central in Hong Kong urge pro-democracy protesters to keep the movement going, Jessica Law and Oscar Au from the Saxo Bank office in Hong Kong, share their views on what the situation is like on the ground. Tens of thousands of demonstrators have been occupying Hong Kong's financial district in protest of what they see as Beijing's influence on the way Hong Kong is run.
Concerns over how the demonstrations are impacting on Hong Kong’s economy are growing; the Hang Seng Index dropped 100 points, according to Oscar, and it’s having a huge impact on tourism, which accounts for around 10 percent of Hong Kong’s GDP. What’s more, On Wednesday begins China’s “Golden Week” holiday, celebrating the country’s National Day, which is when Hong Kong’s retail and hospitality industries depend on large amounts of spending by mainland Chinese visitors.
Jessica says there is hope that the protests will end soon, but adds it could go "the other way and escalate instead", and this, she says, would be a major concern for Hong Kong.
02:09 minutes
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