HONG KONG: Investors are getting anxious about the impact anti-government demonstrations are having on Hong Kong’s banks.
"Things will be going down if people start seeing Hong Kong, which is an international financial center, differently,” said Ronald Wan, CEO of Partners Capital International Ltd. "There will be concern over banks if we see significant capital outflows as they will lose support for business.” It’s not just anti-government demonstrations, now in their 11th week, that are hurting banks in the city: a slowing economy, weaker Chinese currency -- down 2.5% since the end of June -- and the trade dispute with the U.S. create a troublesome mix. And it’s showing in the stock market.
