Banks in Hong Kong shut branches after 2 day long protests A civil disobedience movement launched by Hong Kong based democracy activists, known as Occupy Central has been promising protests for months if Beijings electoral reform did not adequately adjust the current legislation. They are campaigning for the Chinese government to grant full democratic powers to the former British colony. The democracy protesters withstood tear gas and police baton-charges to stand firm in the centre of the global financial hub and government building. Fitch Ratings head of Asia-Pacific Sovereigns Andrew Colquhoun said the protests are unlikely to impact Hong Kongs creditworthiness in the short term; it would be negative if the protests are on a wide enough scale and last long enough to have an effect on the economy or financial stability, but right now we dont see this as very likely, he said.
Posted on: Mon, 29 Sep 2014 08:07:23 +0000