Hong Kong stock market plummets following mass democracy protests

Hong Kong's Hang Seng Index fell 2.3 per cent in early Monday morning trading, hitting a 12 year low of 23,1488 as investor sentiment was knocked by mass protests in the city over the weekend.

 

The Hong Kong dollar also fell to a six month low against the US dollar this morning, following protests that have seen a number of banks forced to suspend their operations.

 

Tens of thousands of people occupied the centre of the city, with many staying on the streets overnight into the morning. 

 

There were ugly clashes in the city’s government district yesterday, as protesters were met with tear gas, pepper spray and arrests by riot police.

 

Protesters are calling for free elections for the former British colony’s next chief executive, rather than candidates vetted by a Beijing-appointed committee.

 

Other markets in the region appeared relatively unaffected.

 

Tokyo's Nikkei is up 0.49 per cent, while per index the Shanghai Composite is up 0.03 per cent.