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Hong Kong Stocks extends losses on unrest
(15 Nov 2019, 20:17)
The Hong Kong stock market closed mixed on Friday, 15 November 2019, as risk sentiments subdued amid concern about anti-government protests in the island city continued into its fifth straight work day, with protesters blocking roads in Central financial districts. At closing bell, the benchmark Hang Seng Index added 0.01%, or 2.97 points, to 26,326.66. The Hang Seng China Enterprises Index sank 0.02%, or 2.58 points, to 10,424.80. The Hang Seng Index fell 4.8% this week.

Risk sentiments subdued as the civic upheaval shows no sign of ending, with anti-government protests rattled the city for a fifth straight day, transport, schools and many businesses closed for safety concerns. The protests began in June over a proposed extradition law and have grown to include demands for greater democracy and other grievances.

The protests - which on Monday included a protester being shot and a man being set on fire - were chaotic throughout the week. Hong Kong's justice minister Teresa Cheng Yeuk-wah was attacked in London by at least 30 protesters, in an incident that injured in her arm.

President Xi Jiping made a rare comment on the upheaval, saying that bringing an end to violence and restoring order was the most urgent task for Hong Kong when he attended a meeting in Brasil. Still, protesters gathered in Central and Causeway Bay on Friday, blocking major roads in the financial and business district.

Out of the 50 stocks on the Hang Seng Index, 32 fell and 14 rose on Friday, with the rest remaining unchanged. CSPC Pharmaceutical Group and Want Want China Holdings were the worst performers, falling at least 1.3%. AAC Technologies Holdings rose 1.8% to HK$51.20 after saying it will issue US dollar-denominated notes for “refinancing and development” of its business. BeiGene soared 6.6% to HK$125.20 after the biopharmaceutical company said that its lymphoma drug Brukinsa received accelerated approval by the US Food and Drug Administration.

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