Wall Street Breakfast: Protests Roil Hong Kong Markets

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The benchmark Hang Seng Index slid nearly 2% overnight as protests against Hong Kong’s controversial extradition law shut down key parts of the city, with police firing tear gas and rubber bullets to drive away thousands of demonstrators. Financial institutions also scrambled for liquid assets, triggering interbank interest rates in the territory to shoot up across the curve, with the one-month and two-month HIBOR reaching their highest level since late 2008. Hong Kong Chief Executive Carrie Lam argues the legislation is necessary to close a legal loophole that makes the city a refuge to criminals, but opponents say its approval would tear down the legal wall intended to keep Hong Kong's justice system separate from China's.

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https://seekingalpha.com/article/4269804-wall-street-breakfast-protests-roil-hong-kong-markets?source=feed_all_articles

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