Hong Kong Stocks Sink As Protests Rock The City

Hong Kong stocks sank more than 2 percent in Monday morning's session, with investors spooked by fresh violent protests across the city in which at least one person was shot by a police officer.

The Hang Seng index slipped 2.1 percent, to 27,070.

On the mainland, the Shanghai dropped 1.3 percent, to 2,928 with traders keeping tabs on Alibaba's annual "Singles' Day" shopping frenzy which acts as a gauge of the country's consumer spending. The firm said the first US$1 billion was spent in just 68 seconds.

In Shenzhen, the composite benchmark lost 1.7 percent, to 1,621 by midday break.

Tokyo went into the break 0.2 percent lower and Singapore shed 0.4 percent with Seoul, Taipei and Manila also lower.

On currency markets the pound struggled to bounce back after suffering a sell-off Friday in reaction to news that Moody's had downgraded the outlook for Britain's debt, citing mounting policy challenges as the Brexit saga rumbles along. (AFP)

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