ripple effects: Countless clashes between black-clad rioters and frontline police officers; vandalism of public property, stores, banks, and ATM machines; and mass arson heavily affected business confidence of investors, according to Global Times China. Analysts have pointed out in the report that Hong Kong's banking system still has ample liquidity in both Hong Kong dollars and foreign currencies. The city, as Asia's business hub, trade-fair capital, and convention hub, has been engulfed in months of protests, which have grown violent. This set of data is unlikely, however, to allay investor concerns around outflows from the city. Industry representatives said the cancelation of such events would further deteriorate Hong Kong's image, and cause damaging ripple effects. On Thursday, the Hong Kong Tourism Board canceled the Hong Kong Cyclothon and Hong Kong Wine and Dine Festival this year amid ongoing social unrest, according to local media.
(news.financializer.com). As
reported in the news.
Tagged under ripple effects, investor concerns topics.