Hong Kong markets bounce
It was a busy time for Hong Kong on Monday amidst the ongoing unrest in the city as the investor responded to Hong Kong’s district council elections. The shares in Asia gained on Monday as a result.
According to Reuters, Hong Kong’s Hang Seng index had a significant growth among major markets regionally as it surged 1.5% to close at 26,993.04, with shares of AIA adding 3.62%. The said moves were preceded by pro-democracy candidates surging to a landslide victory following a record voter turnout.
That was a special moment for the city as it emerged after months of civil unrest that trembled Hong Kong which eventually turned out to be violent.
“I don’t think anyone expected this. Here is a very clear sign, three million Hong Kongers came out in a very orderly fashion, made their votes and sent a very clear signal to the establishment.The message has been sent across the board, across almost every … constituency, is that there is great distrust and frustration with the government and with (Hong Kong Chief Executive) Carrie Lam,” Fraser Howie who is an independent analyst told CNBC’s “Street Signs” on Monday.