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Hong Kong and the ‘Occupy’ Campaign take centre stage – Danske Bank

FXStreet (Edinburgh) - In the view of Chief Analyst at Danske Bank Kasper Kirkegaard, the markets will remain vigilant regarding the events in Hong Kong scheduled for this week.

Key Quotes

“Asian markets are mixed this morning but with Hong Kong down close to 2% following clashes between the police and democracy protestors”.

“The Hang Seng Index has lost 1.9% overnight to erase its gain for the year and the HKD has weakened further against the dollar”.

“The ‘Occupy Central’ campaign supported student-led protests on Sunday, bringing forward a mass civil disobedience campaign scheduled to start on Wednesday according to the BBC”.

“The protests, which are the worst since China took back control of the former British colony two decades ago, are a response to the Chinese government’s decision that it will allow direct elections in Hong Kong but that voters will only be able to choose from a list of pre-approved candidates”.

“The impact on financial markets should be dependent on the likelihood of the protests to spread to mainland China and on the likelihood of protests dragging out and affecting business activity in Hong Kong”.

Canada Industrial Product Price (MoM) above forecasts (-0.2%) in August: Actual (0%)

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