By The Blaze. While many across the world are spending Christmas Eve doing last minute shopping and spending time with family, protesters in Hong Kong are continuing to experience violent clashes with the police as they seek to secure additional freedoms and autonomy from the Chinese government.
According to Bloomberg News, hundreds of citizens turned out in various Hong Kong shopping districts in the latest round of protests, which have now lasted more than six months and have often turned violent.
Police were reported to have fired tear gas canisters around 9pm local time at a crowd that gathered outside the Peninsula Hotel in Tsim Sha Tsui, and also to have used pepper spray on protesters inside other shopping malls and centers throughout the city. Chinese state media reported that a handful of arrests were made.
The protests, which occurred on one of the busiest shopping days of the year, further added to the economic unrest in Hong Kong, which has been severely impacted by the protracted civil unrest. (Read more from “Hong Kong Police Use Tear Gas, Pepper Spray on Christmas Eve Protesters” HERE)
5 Charts Show How Protests in Hong Kong Have Affected the City’s Economy and Stock Market
By CNBC. . .The protests, along with uncertainties such as the U.S.-China trade war, sent the Hong Kong economy into a recession for the first time in a decade. . .
One major driver of the economic downturn in Hong Kong is a steep decline in retail sales. Private consumption accounts for around 65% of the city’s GDP. . .
Declining tourist arrivals into Hong Kong have added to the city’s economic troubles. . .
Despite the pressure on the economy, Hong Kong’s benchmark stock index — the Hang Seng Index — appears on track to end 2019 higher than where it started the year. . .
That’s because investors still see the Hong Kong stock market as a way to buy and sell Chinese assets, according to Mark Mobius, founding partner at Mobius Capital Partners. (Read more from “5 Charts Show How Protests in Hong Kong Have Affected the City’s Economy and Stock Market” HERE)