^HSI - HANG SENG INDEX

HKSE - HKSE Delayed Price. Currency in HKD
25,734.22
+238.72 (+0.94%)
At close: 4:09PM HKT
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Previous Close25,495.50
Open25,484.96
Volume0
Day's Range25,314.27 - 25,798.11
52 Week Range24,540.63 - 30,280.12
Avg. Volume1,627,566,938
  • Barrons.com

    What Comes Next in Hong Kong Could Be Scary for Investors

    Investors are worried that Beijing will intervene in Hong Kong. And while China has incentives to exercise restraint, the weeks of mass protests have already weakened confidence in the financial center.

  • TheStreet.com

    Hong Kong Protesters Try to Start a Run on the Banks and the Currency

    After China's airline regulator put pressure on Hong Kong's main airline, pro-democracy protesters have decided to put pressure on the city's banks.

  • Short Sellers Battle Mainland Buyers in Hong Kong's Stock Market
    Bloomberg

    Short Sellers Battle Mainland Buyers in Hong Kong's Stock Market

    (Bloomberg) -- It’s turning into a struggle of wills between bears betting against Hong Kong equities and mainland Chinese investors.Short selling volume on Hong Kong’s main board climbed to 17% of total turnover this week, the highest proportion since at least 1998, based on a five-day moving average. That’s not deterred mainland investors, who were net buyers of Hong Kong stocks via exchange links for the 21st day on Friday.So far bears have been winning. The benchmark Hang Seng Index has tumbled by about 15% from its April high to be among the world’s worst performers, while selling momentum this week was the strongest since China’s currency devaluation four years ago. Mainland buyers are seeing some success though -- the gauge has rebounded 1.8% in the three days through Friday.To be sure, previous surges in the short selling ratio haven’t been a great indicator for future moves. Back in 2016, a spike was followed by an almost 70% rally. But the pessimistic case for Hong Kong shares is easy to sketch.The city is facing one of its worst crises in decades as increasingly violent protests mar its image as a safe and easy place to do business and shop. There is now serious debate about whether Beijing will use military measures to quell the protests after stationing troops in a stadium across the border.Companies are falling foul of the newly politicized environment. Cathay Pacific Airways Ltd. shares plunged after being singled out by Chinese entities for not sufficiently punishing employees sympathetic to the demonstrators. The airline, which has since fired staff who’d been suspended in relation to the protests, announced Friday that Chief Executive Officer Rupert Hogg had resigned "to take responsibility as a leader of the company in view of recent events."The trade war with the U.S. is also hurting the local economy, as well as damping demand for Chinese companies listed in Hong Kong. A weak yuan is adding further pressure.Mainland investors have kept the faith, however, purchasing a net $5.8 billion of Hong Kong stocks in the past 21 sessions, the longest run of inflows since February 2018. They bought the most in nearly 18 months on Friday.To contact the reporter on this story: Jeanny Yu in Hong Kong at jyu107@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, David Watkins, Magdalene FungFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • South China Morning Post

    China's investors are piling into Hong Kong shares via Stock Connect channel in the longest shopping spree in 18 months

    Chinese investors are not abandoning Hong Kong's stocks, even as Asia's third-largest equity market endures a double whammy of social upheaval and jitters about a global recession.Mainland traders have been buying the city's stocks for 21 straight days through Friday via the cross-border investment channel known as the Stock Connect, pouring an aggregate HK$45.3 billion (US$5.8 billion) into equities listing on the Hong Kong stock exchange. That was the longest buying spree since February 2018, when capital poured in for 31 consecutive days.While global fund managers are taking a cautious approach to Hong Kong stocks, with the protest against a controversial extradition bill descending into the city's biggest civic unrest, some Chinese investors are setting their eyes on the lucrative price discrepancy between the two markets.Hong Kong stocks currently trade at a 23 per cent discount to the mainland-traded shares, the biggest for such a price gap in almost one and a half years, according to a gauge compiled by the Hang Seng Bank to track the discrepancy."The low valuation will create entry opportunities for investors," said Gerry Alfonso, director with the international business department at Shenwan Hongyuan Group in Shanghai. "There is a lot of macro noise but valuations in markets such as Hong Kong tend to be the deciding factor in the long run. A lot of the macro noise is already reflected in prices."The Hang Seng Index is valued at 10.3 times earnings, cheaper than the multiple of 13.7 times in the Shanghai Composite Index, according to Bloomberg data. That makes Hong Kong's key benchmark the cheapest among Asia's major markets on a price-to-earnings basis. Out of the 10 industries on the index that its constituents are engaged in, five trade below their book values, the data showed.The discrepancy is particularly stark among the 113 stocks that are listed on both the Hong Kong and China exchanges, with all but two companies " Anhui Conch Cement and Bank of Qingdao " trading at higher prices on the mainland."There's limited room for further downside in the valuation of Hong Kong stocks," said Zhang Yusheng, an analyst at Changjiang Securities.Funds from mainland China have helped Hong Kong's capital market weather the turmoil in the global financial markets. The Hang Seng Index advanced on Thursday, decoupling from declines in major benchmark in the global markets.Still, increased buying now is not a harbinger of a bull market to come. In the previous stretch of buying that ended in February 2018, the Hang Seng dropped 2.9 per cent in the subsequent three months.Hong Kong's US$4.9 trillion stock market is third in Asia after China's US$6.4 trillion market and Japan's at US$5.6 trillion, according to Bloomberg data."Valuations in Hong Kong are cheap with a large size of the earnings coming from the mainland and that should give them some long term stability," said Alfonso with Shenwan. "But that is a trade that requires substantial self-discipline to handle the ups and downs."This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • Financial Times

    Wall Street recovers at end of tumultuous week

    Wall Street recovered some of its lost ground on Friday, but the gains were not enough to prevent US equities from posting their third consecutive weekly decline, underlining investor fears about the precariousness of the global economy. The S&P 500 advanced 1.4 per cent in a broad based rally with industrials, financials and tech leading the way with gains of about 1.9 per cent each. The Nasdaq Composite rose 1.7 per cent. That followed gains in European and Asian markets.

  • Investors Are Worrying About Hong Kong Banks as Protests Roll On
    Bloomberg

    Investors Are Worrying About Hong Kong Banks as Protests Roll On

    (Bloomberg) -- 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.HSBC Holdings Plc’s shares have plunged 13% in just three weeks and are near the most oversold since at least 1989, while BOC Hong Kong Holdings Ltd. has dropped 12% this month. Lenders’ losses have weighed on the benchmark Hang Seng Index, which is among the worst-performing major equity gauges in the world this August, though it rose 0.9% Friday.Citigroup Inc. has turned more cautious on Hong Kong banks, saying in a research note last week that the weakening yuan would cause a “drastic” decline in loans to mainland China clients and hurt asset quality. “We see bigger earnings risk to Hong Kong banks,” analysts including Yafei Tian wrote, downgrading the rating on BOC Hong Kong to neutral. They also said there’s 20% to 60% downside in the sector’s earnings per share.Demonstrations in Hong Kong, sparked by opposition to an amendment to the extradition law, show no sign of letting up and have become increasingly disruptive. The city’s airport, one of the busiest in Asia, was brought to a standstill earlier this week as protesters swarmed the terminal, resulting in the cancellation of flights.“Investors don’t want to delve deeply into politics but this is something they don’t want to see,” Wan said.Hong Kong’s Financial Secretary Paul Chan said Thursday that the city’s economy will struggle to expand at all this year, slashing the gross domestic product growth forecast to just 0%-1% from 2%-3% previously. Chan also announced fiscal support measures, with a stimulus package worth more than $2 billion.(Updates prices.)\--With assistance from Jeanny Yu.To contact the reporter on this story: Alfred Liu in Hong Kong at aliu226@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Will Davies, Jun LuoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Asia Markets Mixed; Focus Remains on Treasury Yields
    FX Empire

    Asia Markets Mixed; Focus Remains on Treasury Yields

    Some investors may have been lulled into believing that recession is imminent and guaranteed, but that’s not the case with this inversion indicator. Research shows the stock market could rally for 15 months after the inversion, and recession may not start until 22 months after the first signal is flashed.

  • Financial Times

    Hong Kong unrest torches fortunes of city’s billionaires

    Hong Kong’s stock market rout has lopped about $15bn off the net worth of its 10 richest tycoons, as clashes between police and protesters that have weighed on asset prices show little sign of letting up. Li Ka-shing, Hong Kong’s richest man, has racked up paper losses of more than $3bn since the end of July, according to Financial Times calculations based on Bloomberg data tracking the billionaires’ disclosed positions in listed companies. , head of Henderson Land, and Lee Man-tat, chairman of the parent company of sauce maker Lee Kum Kee, have seen their fortunes drop almost one-tenth in August.

  • Political unrest in Hong Kong isn't likely to result in capital flight: expert
    Yahoo Finance

    Political unrest in Hong Kong isn't likely to result in capital flight: expert

    Hong Kong’s tumbling equity market is stoking fears for the economy, as well as the stability of the capital markets.

  • Hong Kong Stocks Rise as Bargain Hunters Descend After Rout
    Bloomberg

    Hong Kong Stocks Rise as Bargain Hunters Descend After Rout

    (Bloomberg) -- Stocks in Hong Kong and China rose, contrasting with losses elsewhere in Asia following a global sell-off.The Hang Seng Index closed up 0.8% after falling as much as 1.6%, lifted by property-related stocks. A gauge of Chinese stocks in Hong Kong climbed 0.4%. Both have lost around 16% from their April highs, weighed down by the U.S.-China trade dispute and protests in Hong Kong. The Shanghai Composite Index added 0.3% and the yuan weakened slightly onshore. The small-cap ChiNext index rose 1.2%."The market was seriously distressed after earlier selloffs, so we’re seeing a dead cat bounce right now along with some possible short covering," said Alex Wong, Director of Asset Management at Ample Capital Ltd. The Hang Seng Properties Index gained 3.3%, its biggest increase since January, after weeks of anti-government protests in Hong Kong dragged the gauge to its lowest this year. New World Development Co. saw its biggest gain since 2009.Stocks dropped elsewhere in Asia after the U.S. government bond market sounded alarms over the health of the economy. The 10-year Treasury yield slipped below the rate on two-year bonds for the first time since 2007, in what is considered to be a signal of a U.S. economic recession beginning in next 18 months. Such expectations have been bolstered by signs that global growth is slowing, prompting investors to flee riskier assets.“The market is already is quite weak and this additional risk from the inverted curve would put more pressure on,” said Daniel So, strategist at CMB International Securities Ltd.Tencent Holdings Ltd. was a drag on Hong Kong stocks, falling as much as 4.2% after its quarterly revenue missed expectations. The results triggered several price cuts by analysts, who expect the social media giant’s online advertising business to remain sluggish due to intensifying competition.“Fear of a U.S. recession added to market worries as poor second-quarter economic data in Asia already concerned investors,” said Banny Lam, head of research at CEB International Investment Corp. “Tencent’s earnings miss is also affecting the market.”Hong Kong Roiled by Recession Fears, Market Plunge, Retail SlumpMainland investors continued to pile into Hong Kong stocks via exchange links with Shanghai and Shenzhen as some investors see dip buying opportunities. They pumped money across the border to buy stocks for a 20th day on Thursday, spending $589 million according to data compiled by Bloomberg, extending the longest streak of inflows since February last year.Wharf Real Estate Investment Co., Link Reit and Sun Hung Kai Properties Ltd. added at least 4%, among the best performers on the Hang Seng Index. MTR Corp., which develops real estate in Hong Kong and operates the city’s railway network, advanced 4.4%.The Hong Kong dollar jumped as much as 0.17%, as 12-month forward points surged in a sign of tighter liquidity in the market. It pared the advance to 0.1%.To contact Bloomberg News staff for this story: Amanda Wang in Shanghai at twang234@bloomberg.net;Kari Lindberg in Hong Kong at klindberg13@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at shortaecosta@bloomberg.net, David Watkins, Will DaviesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    US 30-year bond yield falls below 2% for first time

    A sharp rally in government bonds set fresh records on Thursday, with the yield on 30-year US government bonds falling below 2 per cent for the first time as investors sought safety amid growing fears over the global economy and renewed trade tensions. Traders have dumped riskier assets such as stocks and crude oil and moved into perceived haven assets including bonds, driven by a growing list of interconnected fears including trade tensions between the US and China and slowing global growth.

  • Weak Bank Shares an Early Drag on Asia Pacific Markets
    FX Empire

    Weak Bank Shares an Early Drag on Asia Pacific Markets

    Early Thursday, the yield on the 30-year Treasury bond dropped to a record low in the morning of Asian trading hours, breaking the 2% level for the first time, according to Reuters.

  • Hong Kong Faces New Threat as Chinese Companies Reconsider IPOs
    Bloomberg

    Hong Kong Faces New Threat as Chinese Companies Reconsider IPOs

    (Bloomberg) -- Several Chinese companies are rethinking fundraising plans in Hong Kong as anti-government protests rock the city, an ominous sign for its future as a financial gateway between Asia’s largest economy and the rest of the world.One company scrapped preliminary preparations for a $500 million initial public offering in Hong Kong partly because of the unrest and will instead pursue a U.S. listing, according to a senior banker on the deal, who asked not to be named discussing private information. Another banker said at least two companies are considering the same move for IPOs worth a combined $1 billion, adding that final decisions will depend on market conditions and whether the turmoil in Hong Kong eases.While the deals represent a small portion of the money raised by Chinese businesses in Hong Kong in recent years, they bode ill for the city’s status as one of the world’s premier financial hubs. Two senior bankers said Chinese clients are worried about more than just this week’s shutdown of Hong Kong’s airport and other logistical headaches caused by the protests; they’re also questioning whether the city will remain a stable place to do business over the long term.“The social and political instability has had an impact on people’s perceptions,” said David Cho, a partner at law firm Dechert LLP based in Hong Kong. “The pipeline isn’t looking strong for the remainder of the year, and things could get even worse if China decides to crack down more forcefully in Hong Kong.”The city’s benchmark Hang Seng Index has tumbled 12% over the past three weeks as clashes between protesters and police turned increasingly violent, raising fears that the Chinese military may intervene to restore order. The S&P 500 Index fell about 5% during the same period.The stakes could hardly be higher for Hong Kong, whose economy is highly dependent on the financial industry. Chinese companies accounted for $9 billion of the $11 billion raised via IPOs in the former British colony this year, as well as about 80% of bond sales in the city, data compiled by Bloomberg show. Outstanding China-related loans by Hong Kong banks totaled more than $560 billion at the end of the first quarter, according to the Hong Kong Monetary Authority.The city faces competition from international hubs like the U.S. and Singapore, as well as financial centers in mainland China. A gradual loosening of restrictions on foreign investment has turned Shanghai and Shenzhen into increasingly feasible options for Chinese firms who want access to overseas funds.Even so, few expect China Inc. to abandon Hong Kong’s financial system en masse. U.S. markets are seen as a more stable, but their appeal to Chinese issuers has also diminished somewhat in recent months as the trade war soured relations between the two countries.One closely watched test of Hong Kong’s appeal is Alibaba Group Holding Ltd.’s proposed mega-listing in the city. The e-commerce giant has filed a listing application for a share sale that may raise as much as $20 billion, people familiar with the matter said in June, but the company has stayed quiet about its intentions since the protests escalated.Even if the Alibaba deal proceeds as planned, there’s little doubt that Chinese executives have become more wary of Hong Kong. In addition to those rethinking IPOs, several are canceling or postponing meetings with investors in the city to avoid the risk of getting caught up in protest-related violence or travel disruptions, bankers said. Some are using video conferences instead.Hong Kong’s turmoil has affected the financial industry in other ways. BlackRock Inc., the world’s largest asset manager, postponed its Asia Media Forum in the city to February from September, a company spokeswoman said on Wednesday, so that “as many partners as possible” would be able to join.While CLSA Ltd. plans to go ahead with its popular annual forum in Hong Kong next month, the investment bank has hired a private security company for the event and is working on contingency plans that include a livestream in case some delegates are unable or unwilling to attend in person.\--With assistance from Tongjian Dong, Annie Lee, Andy Clarke and Alfred Liu.To contact the reporters on this story: Cathy Chan in Hong Kong at kchan14@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Michael PattersonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Stock Turmoil Sparks a Wall Street Hunt for Cheap Hedges
    Bloomberg

    Stock Turmoil Sparks a Wall Street Hunt for Cheap Hedges

    (Bloomberg) -- The bad news for investors who waited this long to buy equity hedges is they’ve become eye-wateringly expensive. The good news is Wall Street thinks there are a few cheap strategies left.A gauge tracking the price of bearish S&P 500 options versus bullish contracts -- or skew -- sits near an all-time high, according to Goldman Sachs Group Inc. Yet even now there are pockets of value for those waking up to risks like a U.S. recession, worsening trade war or Hong Kong unrest.“Cheap protection still exists if you know where to look,” Bank of America Corp. strategists led by Stefano Pascale wrote in a note Tuesday.Finding it takes some rummaging around in the complex underbelly of the options market.Pascale and team point out that while closer-to-the-money S&P 500 options prices have spiked, those further out-of-the-money remain relatively underbid. To capitalize on this “striking” phenomenon, they recommend a so-called put fly. The trade involves purchasing a bearish put option, selling two puts that are further below the current price and buying yet another that’s even further out of the money.The S&P 500 Index slumped 2.9% on Wednesday and the Dow Jones Industrial Average plunged 800 points. Risk assets were roiled by weak economic data from Germany and China and by recession warnings flashed by the bond market.For those concerned about European stocks, the bank suggests funding protection on the Euro Stoxx 50 with short VStoxx puts. And recent hedging from structured-products issuers has pushed down two-year at-the-money volatility on the Hang Seng China Enterprises Index, making long-dated options on the gauge appear relatively cheap, they said.Back in the U.S., S&P 500 skew remains elevated following last week’s sell-off. That’s somewhat unusual, according to Pat Hennessy, head trader at IPS Strategic Capital.“Generally, skew starts weakening after the first leg down as vol sellers roll options down and out and fear abates. Not at all the case right now,” Hennessy tweeted. Among the reasons for it could be portfolio managers holding more equity risk on their books and a relative dearth of put selling, he said.Macro Risk Advisors has also crunched the numbers to find the best places for worried investors to protect against growing turmoil.“U.S. technology, high yield, oil, emerging markets (e.g. broad EM, China, Brazil), EAFE, and FX implied volatility are all trading attractive to U.S. equity implied volatility,” strategist Maxwell Grinacoff wrote in a note Tuesday.Grinacoff suggests buying puts on benchmark emerging-market and oil ETFs, while touting put spreads on the largest Nasdaq-tracking fund, QQQ.(Updates with Wednesday market moves.)To contact the reporter on this story: Joanna Ossinger in Singapore at jossinger@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Yakob Peterseil, Samuel PotterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • How the Hong Kong crisis could trigger a wider financial meltdown
    MarketWatch

    How the Hong Kong crisis could trigger a wider financial meltdown

    Until recently, stock markets were having their best year to date since 1997. An initial ripple in the Thai baht spread financial contagion across a leveraged Asian economic region, and in turn led to steep losses in U.S. markets. With riots on the streets of Hong Kong and its airport disrupted, could another crisis strike now?

  • TheStreet.com

    What Happens if the Tanks Roll Into Hong Kong?

    With Beijing amassing military hardware on Hong Kong's doorstep, it's worth counting the cost if the People's Liberation Army 'liberates' the city from pro-democracy protesters.

  • Financial Times

    Wall St drops and government bonds rally amid recession fears

    Weak economic data from Germany and China renewed investor jitters over the health of the global economy, sending US and European stocks lower and reigniting a rally in government bonds as a closely watched part of the US yield curve inverted for the first time in more than a decade. Wall Street was sharply lower, with the S&P 500 down 2.9 per cent in a broad-based decline to 2840.60 — the lowest close in more than two months — with energy and financial stocks the biggest laggards. The Nasdaq Composite and Dow Jones Industrial Average both shed 3 per cent.

  • Financial Times

    US stocks close higher after Trump delays China tariffs

    US stocks and China’s currency rallied sharply on Tuesday after Washington announced a delay to some additional tariffs on Chinese imports, allaying concerns over a trade row that many investors feared would tip the US into recession. The S&P 500 snapped a two-day losing streak and clawed back heavy losses from the prior day following the announcement from the Trump administration, while perceived haven assets such as US Treasuries, gold and the Japanese yen sold off. Chinese and Hong Kong equities followed the US benchmark higher with the Hang Seng up as much as 1.7 per cent at one point in morning trade and China’s CSI 300 adding as much as 1.4 per cent.

  • MarketWatch

    Two-year Treasury yield logs biggest daily rise in five weeks after signs of trade progress

    U.S. Treasury yields jump Tuesday after reports of progress in U.S.-China trade negotiations sap demand for safe assets like bonds.

  • WRAPUP 5-Clashes at Hong Kong airport after flights halted
    Reuters

    WRAPUP 5-Clashes at Hong Kong airport after flights halted

    Police and protesters clashed at Hong Kong's international airport on Tuesday evening after flights were disrupted for a second day and the political crisis in the former British colony deepened. In Washington, U.S. President Donald Trump said the Chinese government was moving troops to the border with Hong Kong and he urged calm.

  • TheStreet.com

    [video]Stocks Post Solid Gains on Thaw in U.S.-China Trade War; Apple Surges

    Stocks finish higher Tuesday as investors brush off recession signs amid word of possible progress in U.S.-China trade talks.

  • GLOBAL MARKETS-Shares fall after Argentina peso tumble, safe-havens shine
    Reuters

    GLOBAL MARKETS-Shares fall after Argentina peso tumble, safe-havens shine

    Share markets fell for a third straight day on Tuesday as fears about a drawnout global trade war, protests in Hong Kong and a crash in Argentina's peso currency kept investors huddled in bonds, gold, and the Japanese yen for safety. If that wasn't enough, Europe's bourses and the euro were given an additional shove lower by an alarming German sentiment survey after some heavy falls in China, Hong Kong, Japan had also whacked down Asia overnight.

  • WRAPUP 7-Police, protesters clash at Hong Kong airport after flights halted for second day
    Reuters

    WRAPUP 7-Police, protesters clash at Hong Kong airport after flights halted for second day

    Police and protesters clashed at Hong Kong's international airport on Tuesday after flights were disrupted for a second day as the political crisis in the former British colony deepened. In Washington, U.S. President Donald Trump said the Chinese government was moving troops to the border with Hong Kong and he urged calm.

  • Financial Times

    Hong Kong investors dump stocks amid mounting protests

    The benchmark Hang Seng index has dropped 9 per cent in August, taking it into the red for 2019 amid a sell-off in both Hong Kong-focused stocks and those at risk from broader unrest. Hong Kong is the only one among 24 developed stock markets tracked by Bloomberg now in negative territory for the year. Five years ago the Hong Kong and broader Chinese economy were “a lot more healthy”, cautioned an investment director at one global asset manager.

  • Asian Markets Weaken as Chinese Military Assembles Near Hong Kong Border
    FX Empire

    Asian Markets Weaken as Chinese Military Assembles Near Hong Kong Border

    Although Hong Kong’s airport reopened on Tuesday after it was shut down on Monday due to protestors staging a sit-in at the airport, one economist still described the situation in Hong Kong as “very disconcerting.”