Hong Kong's Hang Seng benchmark closed down 2.6% after police fired gunshots at protesters, and demonstrations across the city forced schools and offices to close early
The Hang Seng benchmark closed down 2.6%, the fourth-biggest drop of the year, after police fired gunshots at protesters, and demonstrations across the city forced schools and offices to close early.
The ongoing protests have triggered similar selloffs this year, including in August when demonstrators paralyzed the airport, one of the world’s busiest travel hubs. The Hang Seng Index is one of the weakest major stock market performers this year, up just 4%, compared to double-digit gains elsewhere in Asia, the U.S. and Europe.
Among the biggest movers in Europe, shares in bakery chain Greggs rallied 12.9%. The company raised its profit outlook for 2019 after it saw sales jump following the launch of its vegan sausage roll earlier this year. After some optimism around the prospects of a so-called phase 1 trade deal last week, some analysts like Mike Bell, global market strategist at J.P. Morgan Asset Management, have flagged concerns that investors could be disappointed by the scope of any agreement.
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