The incessant mass-protest in Hong Kong does not utterly stop the flow of business and economy. As police officers and protesters are busy doing their stuffs, banks and businesses at the other part of the city mind their own business. Thanks to their persistence, investors remain faithful to Hong Kong.
Although Mainland China’s, and supposedly Hong Kong’s, markets are not open due to National Day’s golden week, Hong Kong’s companies do not take a day off. Reportedly, Hong Kong is starting to recover from its loss.
One example is Hong Kong brewer Budweiser Brewing Company APAC that acquired USD 5 billion in its initial public offering on the Hong Kong Stock Exchange. Accordingly, this is the second biggest IPO so far in the world this year.
Another example is Macau’s rising visitors during the golden week. The escalating number of visitors to Macau’s casinos has helped Hang Seng gained 0.17%, enabling the index to be in the positive territory.
Also, there is a report that three major companies will make further investment in Hong Kong. Bankers said that they will open approximately three new shares.
Also Read: Hong Kong Protests Crisis: What Now?
The Attempts to Bring Back the Business
Despite being contradicting in the occasionally violent protests, both the government and people of Hong Kong are indirectly cooperating in restoring the economy.
Although the rally is ceaseless, the participants of the rally are constantly changing. This is so for some have to go to work at certain times, while some have to go to school.
As for business owners, they have been taking part in maintaining the stability of their businesses during the harsh times. Although the protests still indubitably hurt business progression, they are starting to get familiar to it.
“I think people are getting used to the weekly events. The impact was seen in the initial one to two months in share prices, and mostly in retail, property and tourism. The index mostly reflects onshore Chinese market and economy. Hong Kong companies’ share is not that big,” said Steven Leung, executive director for institutional sales at brokerage UOB Kay Hian.
Meanwhile, the government, in order to prevent further violent riots, is planning to conduct curfews. This is so to maintain the stability in the city. However, it is very essential to note that this might lead to other unjustified persecutions.