Wednesday, 13 November, 2019

Hong Kong stocks sink as city is hit by protests

Tens of thousands of protesters brought to a standstill and blocked government offices as crowds demonstrated against a government plan to allow extraditions to mainland China Hong Kong Markets Roiled by Interbank Rate Squeeze Amid Protests
Russell Knight | 15 June, 2019, 09:21

Asian markets fell on Wednesday after two days of healthy gains, with Hong Kong the worst performer - sinking 2 percent as a huge anti-government protest paralysed key roads in the city before turning violent.

TOKYO, June 13 (Reuters) - Asian shares slumped on Thursday as the Hong Kong market was hit for the second straight session following a day of massive street protests, while oil prices flirted with five-month lows due to higher USA crude inventories and a bleak demand outlook.

Shares were mostly lower in Asia on Wednesday and Hong Kong's Seng index tumbled 1.7% as thousands continued protests against proposed legislation that many city residents fear could further erode the territory's legal autonomy.

Major thoroughfares were blocked by the protests as lawmakers prepared to debate the bill, which would allow extraditions to China and that many fear will hammer Hong Kong's reputation as an global business hub. A Chinese investor sits near a poster with the words "Treasure your hard earned money, Protect your parent's retirement fund, Defend your children's education fund" at a brokerage in Beijing Wednesday, June 12, 2019.

The Dow Jones Industrial Average rose 101.94 points, or 0.39%, to 26,106.77, the S&P 500 gained 11.8 points, or 0.41%, to 2,891.64 and the Nasdaq Composite added 44.41 points, or 0.57%, to 7,837.13.

Japan's Nikkei lost 0.8% while US stock futures slipped 0.2% in Asia, following small losses the previous day when the S&P 500 shed 0.20%.

The Hang Seng Index fell 0.86 per cent, or 235.47 points, to 27,072.99 by the break.

The Hang Seng lost 1.7% to 27,308.46 as thousands of protesters, majority young, prevented lawmakers from entering Hong Kong's government headquarters Wednesday.

They obstructed the flow of traffic and delayed a debate on a bill that would allow criminal suspects in Hong Kong to be sent for trial in mainland China.

Australia beats Brazil 3-2 with aid from an own goal
France, meanwhile, are certain to at least be one of the best third-placed teams as they already have six points in Group A. That's a tough one, isn't it? They overcame a 2-0 deficit to score three straight goals and regained a lot of confidence.

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Dolan told the fan he was rude, asked if he wanted to come to any more games and then told him to "enjoy watching them on TV". This was no laughing matter, and the Raptors were stunned to learn that Stevens was part of the Warriors' organization.

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That made Siakam's 32-point performance in Game 1 even more impressive. Toronto took Game 1 and will host Game 2 on Sunday night. Kerr said the team isn't going to rush Durant's return.

Japan's Nikkei shed 0.8 percent, while US Stock futures in Asia dipped 0.3 percent and the Bombay Stock exchange (BSE) had shrugged off 0.49 percent. Australia's S&P ASX 200 edged 0.1% higher 6,550.40.

Oil futures rose on Thursday after attacks on two tankers off the coast of Iran, while the U.S. Treasury yield curve steepened and stocks rose following economic data that was seen as strengthening the case for the Federal Reserve to cut interest rates this year.

HK- Shanghai Connect daily quota used 2.7%. But he said he's prepared to expand existing tariffs if a deal with Beijing falls through.

"It's me, right now, that's holding up the deal", Trump said in comments carried by CNBC and other news outlets.

Benchmark 10-year notes last rose 11/32 in price to yield 2.091%, from 2.127% late on Wednesday. Brent crude oil, the global standard, fell $1.33 to $60.96 a barrel.

President Donald Trump has said he plans to meet with Chinese President Xi Jinping at the Group of 20 summit late this month in Osaka, Japan.

The dollar index, which tracks the greenback against six major currencies, rose 0.01%, with the euro down 0.09% to $1.1277.

US crude settled up 2.23% at $52.28 while Brent rose $1.14 to $61.31.

The dollar fell to 108.36 Japanese yen from 108.52 yen on Friday.

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