Watch Lebanon’s ex-foreign minister speak on return of unrest in the Arab world

Please refresh the page if you do not see a player above at that time.] CNBC’s Hadley Gamble hosts a panel with top political and business leaders on Middle East unrest at the World Economic Forum in Davos. The CNBC anchor is joined by former Lebanese Foreign Minister Gebran Bassil, Dutch Foreign Trade Minister Sigrid Kaag and Damac Properties Chairman Hussain Sajwani to discuss the topic. The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the


Please refresh the page if you do not see a player above at that time.]
CNBC’s Hadley Gamble hosts a panel with top political and business leaders on Middle East unrest at the World Economic Forum in Davos.
The CNBC anchor is joined by former Lebanese Foreign Minister Gebran Bassil, Dutch Foreign Trade Minister Sigrid Kaag and Damac Properties Chairman Hussain Sajwani to discuss the topic.
The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the
Watch Lebanon’s ex-foreign minister speak on return of unrest in the Arab world Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: cnbccom staff
Keywords: news, cnbc, companies, leaders, lebanons, panel, watch, foreign, speak, weigh, discuss, return, business, exforeign, world, minister, worldwide, unrest, arab


Watch Lebanon's ex-foreign minister speak on return of unrest in the Arab world

[This stream is expected to start at 07:00 ET. Please refresh the page if you do not see a player above at that time.]

CNBC’s Hadley Gamble hosts a panel with top political and business leaders on Middle East unrest at the World Economic Forum in Davos.

The CNBC anchor is joined by former Lebanese Foreign Minister Gebran Bassil, Dutch Foreign Trade Minister Sigrid Kaag and Damac Properties Chairman Hussain Sajwani to discuss the topic.

The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide. In this panel, speakers will weigh in on the return of popular protests that are affecting over a third of Arab countries, almost a decade on from the Arab Spring.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: cnbccom staff
Keywords: news, cnbc, companies, leaders, lebanons, panel, watch, foreign, speak, weigh, discuss, return, business, exforeign, world, minister, worldwide, unrest, arab


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Almost 40% of the world’s countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. (Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study. There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c


Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China.
(Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.
There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c
Almost 40% of the world’s countries will witness civil unrest in 2020, research claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, witnessed, hong, worlds, 2020, research, witness, civil, protest, unrest, kong, rise, claims, risk, countries, protesters


Almost 40% of the world's countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. Hundreds of thousands of protesters marched in Hong Kong in Sunday against a controversial extradition bill that would allow suspected criminals to be sent to mainland China for trial.(Photo by Anthony Kwan/Getty Images)

Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.

There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in civil unrest in 2019.

The data model, published Thursday by socio-economic and political analysis firm Verisk Maplecroft, has also predicted that in 2020, the number will balloon to 75 countries.

The U.K. consultancy identified Hong Kong and Chile as the two flashpoints suffering the largest increases in unrest since the beginning of 2019. Neither country is expected to find peace for at least two years, according to the research.

Other areas now considered hotbeds of civil protest include Nigeria, Lebanon and Bolivia. Beyond these three, countries dropping into a category labeled “extreme risk” include Ethiopia, India, Pakistan and Zimbabwe.

Since the previous index release, Sudan has overtaken Yemen to become the highest risk country globally.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, witnessed, hong, worlds, 2020, research, witness, civil, protest, unrest, kong, rise, claims, risk, countries, protesters


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How the US became a tear gas production powerhouse amid rising global unrest

Scenes of riot police firing tear gas canisters into crowds of protesters have become a frequent image. With unrest intensifying in places such as Hong Kong and Iraq, the nonlethal weapons industry is expected to surge. So, where does all this tear gas come from? The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to Stratistics. Watch the video above to find out more about the tear gas industry and why the demand for nonlethal crowd-control weapons is on the


Scenes of riot police firing tear gas canisters into crowds of protesters have become a frequent image.
With unrest intensifying in places such as Hong Kong and Iraq, the nonlethal weapons industry is expected to surge.
So, where does all this tear gas come from?
The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to Stratistics.
Watch the video above to find out more about the tear gas industry and why the demand for nonlethal crowd-control weapons is on the
How the US became a tear gas production powerhouse amid rising global unrest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: andrea miller
Keywords: news, cnbc, companies, production, industry, according, global, weapons, gas, revenue, rising, powerhouse, tear, turns, amid, video, nonlethal, unrest


How the US became a tear gas production powerhouse amid rising global unrest

Scenes of riot police firing tear gas canisters into crowds of protesters have become a frequent image.

With unrest intensifying in places such as Hong Kong and Iraq, the nonlethal weapons industry is expected to surge. By 2023, the industry could make close to $12 billion in revenue, nearly doubling its revenue from 2016, according to market research from Stratistics MRC.

So, where does all this tear gas come from? It turns out a lot of that manufacturing is happening on U.S. soil.

The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to Stratistics.

Watch the video above to find out more about the tear gas industry and why the demand for nonlethal crowd-control weapons is on the rise.

See also:


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: andrea miller
Keywords: news, cnbc, companies, production, industry, according, global, weapons, gas, revenue, rising, powerhouse, tear, turns, amid, video, nonlethal, unrest


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How the tear gas industry works

How the tear gas industry worksThe use of tear gas has become prolific. With unrest around the globe intensifying, in places like Hong Kong and Iraq, the nonlethal weapons industry is expected to surge. By 2023, this industry could make nearly $12 billion dollars in revenue. So, where does all this tear gas come from? The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to market research from Stratistics MRC.


How the tear gas industry worksThe use of tear gas has become prolific.
With unrest around the globe intensifying, in places like Hong Kong and Iraq, the nonlethal weapons industry is expected to surge.
By 2023, this industry could make nearly $12 billion dollars in revenue.
So, where does all this tear gas come from?
The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to market research from Stratistics MRC.
How the tear gas industry works Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, industry, weapons, gas, works, stratistics, tear, turns, surge, worksthe, nonlethal, unrest


How the tear gas industry works

How the tear gas industry works

The use of tear gas has become prolific. With unrest around the globe intensifying, in places like Hong Kong and Iraq, the nonlethal weapons industry is expected to surge. By 2023, this industry could make nearly $12 billion dollars in revenue. So, where does all this tear gas come from? It turns out a lot of that manufacturing is happening on U.S. soil. The U.S. is the largest developer, operator and exporter of nonlethal weapons, according to market research from Stratistics MRC.


Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, industry, weapons, gas, works, stratistics, tear, turns, surge, worksthe, nonlethal, unrest


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Hundreds arrested in Hong Kong in New Year’s Day protests, according to the police

Protesters hold up black flags during the demonstration. Entering the 7th month of civil unrest, protesters marched the streets, calling for the five demands to be met. About 400 people were arrested in New Year’s Day protests in Hong Kong after what started as a peaceful pro-democracy march of tens of thousands spiraled into chaotic scenes with police firing tear gas to disperse the crowds. When scuffles broke out, large numbers of black-clad protesters rushed to the scene while other protester


Protesters hold up black flags during the demonstration.
Entering the 7th month of civil unrest, protesters marched the streets, calling for the five demands to be met.
About 400 people were arrested in New Year’s Day protests in Hong Kong after what started as a peaceful pro-democracy march of tens of thousands spiraled into chaotic scenes with police firing tear gas to disperse the crowds.
When scuffles broke out, large numbers of black-clad protesters rushed to the scene while other protester
Hundreds arrested in Hong Kong in New Year’s Day protests, according to the police Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-02
Keywords: news, cnbc, companies, arrested, unrestthe, water, day, protesters, unrest, hong, according, hundreds, various, arrests, streets, weekswhen, wan, kong, protests


Hundreds arrested in Hong Kong in New Year's Day protests, according to the police

Protesters hold up black flags during the demonstration. Entering the 7th month of civil unrest, protesters marched the streets, calling for the five demands to be met.

About 400 people were arrested in New Year’s Day protests in Hong Kong after what started as a peaceful pro-democracy march of tens of thousands spiraled into chaotic scenes with police firing tear gas to disperse the crowds.

The arrests take the total to about 7,000 since protests in the city escalated in June over a now-withdrawn bill that would have allowed extradition to mainland China, and will highlight the apparent absence of any progress towards ending the unrest.

The tension on Wednesday rose after some arrests were made in the Wan Chai bar district near a branch of global banking group HSBC, which has been the target of protester anger in recent weeks.

When scuffles broke out, large numbers of black-clad protesters rushed to the scene while other protesters formed

human chains to pass them various supplies including bricks, forcing police to bring in their own reinforcements.

Police then asked organisers to call off the march early and crowds eventually dispersed as a water cannon truck and scores of police in riot gear patrolled the streets late into the evening.


Company: cnbc, Activity: cnbc, Date: 2020-01-02
Keywords: news, cnbc, companies, arrested, unrestthe, water, day, protesters, unrest, hong, according, hundreds, various, arrests, streets, weekswhen, wan, kong, protests


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Hong Kong unrest has led to as much as $5 billion in capital outflows, Bank of England says

The unrest in Hong Kong has led to as much as $5 billion of capital outflow from investment funds in the Asian financial hub since April, the Bank of England said. “These political tensions pose risks, given Hong Kong’s position as a major financial center,” the report said. The BoE monitors Hong Kong closely because UK banks such as HSBC and Standard Chartered are also the leading banks in Hong Kong. Analysts at Goldman Sachs said in October that about $4 billion of deposits might have left Hon


The unrest in Hong Kong has led to as much as $5 billion of capital outflow from investment funds in the Asian financial hub since April, the Bank of England said.
“These political tensions pose risks, given Hong Kong’s position as a major financial center,” the report said.
The BoE monitors Hong Kong closely because UK banks such as HSBC and Standard Chartered are also the leading banks in Hong Kong.
Analysts at Goldman Sachs said in October that about $4 billion of deposits might have left Hon
Hong Kong unrest has led to as much as $5 billion in capital outflows, Bank of England says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-17
Keywords: news, cnbc, companies, bank, billion, kong, saidthe, report, unrest, england, capital, kongs, gdp, banks, financial, led, hong, outflows


Hong Kong unrest has led to as much as $5 billion in capital outflows, Bank of England says

The unrest in Hong Kong has led to as much as $5 billion of capital outflow from investment funds in the Asian financial hub since April, the Bank of England said.

The flight of capital, which accounted for nearly 1.25% of the region’s GDP, began after the city’s government pushed for a bill that would allow extradition to Mainland China, according to the central bank’s Financial Stability Report released on Monday.

As protests against the bill intensified and led to violent clashes, retail sales plunged, pushing the city into its first recession in a decade.

“These political tensions pose risks, given Hong Kong’s position as a major financial center,” the report said.

The BoE monitors Hong Kong closely because UK banks such as HSBC and Standard Chartered are also the leading banks in Hong Kong.

The banks have passed the BoE’s stress test, which modeled a fall of almost 8% in Hong Kong’s GDP and a slump in property prices by more than half.

Analysts at Goldman Sachs said in October that about $4 billion of deposits might have left Hong Kong for Singapore between June and August.

However, the Hong Kong Monetary Authority, the central bank in the Chinese-ruled territory, has repeatedly said there are no apparent signs of significant capital outflows from the city.


Company: cnbc, Activity: cnbc, Date: 2019-12-17
Keywords: news, cnbc, companies, bank, billion, kong, saidthe, report, unrest, england, capital, kongs, gdp, banks, financial, led, hong, outflows


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Hong Kong unrest hits 6-month milestone, protesters’ demands see little response from government

Social unrest in the city has since taken on broader anti-government sentiment as protesters push for greater democracy in Hong Kong. Cloud of smoke from an explosion on the footbridge on the drive way in front of Hong Kong Coliseum and Hong Kong harbor during the protests on Nov. 18. The Hong Kong government introduced four rounds of relief measures worth 25 billion Hong Kong dollars ($3.19 billion), with most of that expected to go toward the hardest hit sectors like tourism and retail. But bu


Social unrest in the city has since taken on broader anti-government sentiment as protesters push for greater democracy in Hong Kong.
Cloud of smoke from an explosion on the footbridge on the drive way in front of Hong Kong Coliseum and Hong Kong harbor during the protests on Nov. 18.
The Hong Kong government introduced four rounds of relief measures worth 25 billion Hong Kong dollars ($3.19 billion), with most of that expected to go toward the hardest hit sectors like tourism and retail.
But bu
Hong Kong unrest hits 6-month milestone, protesters’ demands see little response from government Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08  Authors: vivian kam
Keywords: news, cnbc, companies, city, little, protests, hits, marched, 6month, kong, protesters, hong, milestone, demands, kongs, response, economic, think, unrest


Hong Kong unrest hits 6-month milestone, protesters' demands see little response from government

Hong Kongers marched again on Sunday, chanting “five demands, not one less” as the city’s anti-government protests approached their six-month milestone. Demonstrators have been locked in a stalemate with the local government since early June amid protests initially sparked by a bill that would have enabled extradition to mainland China. On June 9, a million people marched through the financial center to demonstrate their opposition. Approximately 2 million people marched in protest a week later. While Hong Kong leader Carrie Lam has since retracted the bill, fulfilling one of the five demands, critics regarded the move as too little, too late. Social unrest in the city has since taken on broader anti-government sentiment as protesters push for greater democracy in Hong Kong. Government opposition was fueled by anger with police conduct as well as how Lam’s administration dealt with the protests, Ma Ngok, associate professor in the department of government and public administration at the Chinese University of Hong Kong, told CNBC. “The government hasn’t actually responded, so a lot of people think they just cannot give up on the protest” Ma said.

Cloud of smoke from an explosion on the footbridge on the drive way in front of Hong Kong Coliseum and Hong Kong harbor during the protests on Nov. 18. May James | SOPA Images | LightRocket | Getty Images

Hong Kong’s economic troubles

The unrest adds further pressure on Hong Kong’s economy, already hit by global uncertainty amid the U.S.-China trade war. The city entered a technical recession in the third quarter, posting a year-over-year decline of 2.9%. The government estimated that the protests alone contributed 2 percentage points to the economic contraction.

The Hong Kong government introduced four rounds of relief measures worth 25 billion Hong Kong dollars ($3.19 billion), with most of that expected to go toward the hardest hit sectors like tourism and retail. That extra spending will lead the city to post its first budget deficit in 15 years, Hong Kong’s financial secretary said. The government lowered its full-year forecast and now expects Hong Kong’s economy to contract 1.9% during this fiscal year. But business in Hong Kong remains largely normal, according to Edward Yau, Hong Kong’s secretary for Commerce and Economic Development. “We hope that, well with the easing of the social unrest, law and order back to normal. Then I think we’re heading towards a rebound” Yau said in an interview with CNBC. “But more importantly, I think we also need to tackle the wider picture, which I think Hong Kong and our neighboring region also suffer, which is U.S.-China trade war.”

Establishment’s weak mandate

Lam, the city’s leader, has insisted that escalating violence would not force her administration to yield to protester demands. Her popularity, however, has taken a drastic nosedive. Lam’s approval rating plunged to just 19.7% in November, the lowest of Hong Kong’s leaders, according to the most recent figures from the Hong Kong Public Opinion Research Institute.


Company: cnbc, Activity: cnbc, Date: 2019-12-08  Authors: vivian kam
Keywords: news, cnbc, companies, city, little, protests, hits, marched, 6month, kong, protesters, hong, milestone, demands, kongs, response, economic, think, unrest


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Hong Kong is open to more economic support after launching its fourth stimulus package in four months, says official

The Hong Kong government is keeping an open mind to additional measures that will help support the city’s economy, Edward Yau, the city’s secretary for commerce and economic development, said on Thursday. “Hong Kong is of course hit doubly by a sort of twin cycle — U.S.-China trade war and also the local unrest; I think the enterprises are hard hit,” Yau told CNBC’s “Street Signs.” Yau added that the Hong Kong government has been rolling out support measures for businesses even before the social


The Hong Kong government is keeping an open mind to additional measures that will help support the city’s economy, Edward Yau, the city’s secretary for commerce and economic development, said on Thursday.
“Hong Kong is of course hit doubly by a sort of twin cycle — U.S.-China trade war and also the local unrest; I think the enterprises are hard hit,” Yau told CNBC’s “Street Signs.”
Yau added that the Hong Kong government has been rolling out support measures for businesses even before the social
Hong Kong is open to more economic support after launching its fourth stimulus package in four months, says official Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: huileng tan
Keywords: news, cnbc, companies, kong, yau, support, months, economic, trade, fourth, open, hong, citys, official, launching, package, help, uschina, unrest, stimulus


Hong Kong is open to more economic support after launching its fourth stimulus package in four months, says official

The Hong Kong government is keeping an open mind to additional measures that will help support the city’s economy, Edward Yau, the city’s secretary for commerce and economic development, said on Thursday.

“Hong Kong is of course hit doubly by a sort of twin cycle — U.S.-China trade war and also the local unrest; I think the enterprises are hard hit,” Yau told CNBC’s “Street Signs.”

Yau added that the Hong Kong government has been rolling out support measures for businesses even before the social unrest started this year to help enterprises cope with the fallout of the U.S.-China trade war.

“In addition to these, I think we are having an open mind and we will constantly talk to various trades and see how best we can soldier on and ride our storm,” Yau added.

The Hong Kong government on Wednesday announced an additional 4 billion Hong Kong dollars ($511 million) in economic stimulus, bringing the total relief offered to 25 billion Hong Kong dollars (about $3.2 billion).

It was the city’s fourth economic support package, much of which goes to help the tourism, retail and transport industries.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: huileng tan
Keywords: news, cnbc, companies, kong, yau, support, months, economic, trade, fourth, open, hong, citys, official, launching, package, help, uschina, unrest, stimulus


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Beijing finally responds to Hong Kong election results after big win for democrats

Voters stand in line outside a polling station during the District Council election in the Lam Tin district of Hong Kong, China, on Sunday, Nov. 24, 2019. Hong Kong — a former British colony, which returned to Chinese rule in 1997 — has been plagued by months of anti-government protests. The Chinese territory operates under the “one country, two systems” framework which grants Hong Kong self-governing power and various freedoms, including limited election rights. The Chinese Communist Party’s Pe


Voters stand in line outside a polling station during the District Council election in the Lam Tin district of Hong Kong, China, on Sunday, Nov. 24, 2019.
Hong Kong — a former British colony, which returned to Chinese rule in 1997 — has been plagued by months of anti-government protests.
The Chinese territory operates under the “one country, two systems” framework which grants Hong Kong self-governing power and various freedoms, including limited election rights.
The Chinese Communist Party’s Pe
Beijing finally responds to Hong Kong election results after big win for democrats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: huileng tan
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Beijing finally responds to Hong Kong election results after big win for democrats

Voters stand in line outside a polling station during the District Council election in the Lam Tin district of Hong Kong, China, on Sunday, Nov. 24, 2019. Bloomberg | Bloomberg | Getty Images

After Hong Kong’s pro-democracy candidates scored a landslide win in local elections, Chinese state media called the results “skewed” and a “setback” for the city’s drive for democracy. Pan-democrats in Hong Kong won almost 90% of 452 district council seats in Sunday’s elections — widely seen as a barometer of public sentiment after months of social unrest in the special administrative region. The results were also a stinging rebuke to Beijing-backed chief executive Carrie Lam and her administration. “The result of Sunday’s district council election marks a setback for Hong Kong’s democratic development, as the results were skewed by the illegal activities of the opposition camp to the benefit of their candidates,” said China Daily in an editorial on Monday. “In the run up to Sunday’s voting, members of the opposition camp, particularly their young agitators, engaged in an all-out campaign to sabotage the campaign activities of pro-establishment candidates and intimidate their supporters from going to the ballot box,” added the English language newspaper.

Hong Kong — a former British colony, which returned to Chinese rule in 1997 — has been plagued by months of anti-government protests. The Chinese territory operates under the “one country, two systems” framework which grants Hong Kong self-governing power and various freedoms, including limited election rights. Demonstrators are angry at what they say is Chinese meddling in some of those freedoms. The Chinese Communist Party’s People’s Daily reported Tuesday that the local elections in Hong Kong have concluded, but it did not mention the result. The newspaper also said the months-long social unrest in Hong Kong have “severely disrupted the elections process” and added that “patriotic candidates” were harassed on the day of the election by those seeking chaos, according to a CNBC translation. In a commentary on Monday, state news agency Xinhua blamed “foreign forces” and said the election “fell victim” to the social unrest. “During the past more than five months, rioters conspired with foreign forces and escalated violent acts, which resulted in political antagonism, social splits, and setbacks in the economy,” Xinhua said in the editorial. “Campaigns of some patriotic candidates were seriously disrupted, and their offices were trashed and set ablaze. One candidate was injured in an attack. Harassment on patriotic candidates occurred on the voting day,” according to the news agency.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: huileng tan
Keywords: news, cnbc, companies, hong, beijing, democrats, responds, elections, social, unrest, big, election, win, kong, district, results, sundays, candidates, chinese, finally


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Hong Kong markets jump as pro-democracy candidates surge to ‘stunning’ election victory

Shares in Asia were higher on Monday, as investors reacted to Hong Kong’s district council elections amid months of civil unrest in the city. Hong Kong’s Hang Seng index led gains among major markets regionally as it jumped 1.5% to close at 26,993.04, with shares of life insurer AIA surging 3.62%. The moves came after pro-democracy candidates surged to a landslide victory following a record voter turnout, Reuters reported. One analyst said the development was a “stunning victory” for pro-democra


Shares in Asia were higher on Monday, as investors reacted to Hong Kong’s district council elections amid months of civil unrest in the city.
Hong Kong’s Hang Seng index led gains among major markets regionally as it jumped 1.5% to close at 26,993.04, with shares of life insurer AIA surging 3.62%.
The moves came after pro-democracy candidates surged to a landslide victory following a record voter turnout, Reuters reported.
One analyst said the development was a “stunning victory” for pro-democra
Hong Kong markets jump as pro-democracy candidates surge to ‘stunning’ election victory Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: eustance huang
Keywords: news, cnbc, companies, hong, shenzhen, victory, candidates, jump, kong, unrest, election, months, markets, kongs, shares, prodemocracy, surge, sent, stunning, howie


Hong Kong markets jump as pro-democracy candidates surge to 'stunning' election victory

Shares in Asia were higher on Monday, as investors reacted to Hong Kong’s district council elections amid months of civil unrest in the city.

Hong Kong’s Hang Seng index led gains among major markets regionally as it jumped 1.5% to close at 26,993.04, with shares of life insurer AIA surging 3.62%. The moves came after pro-democracy candidates surged to a landslide victory following a record voter turnout, Reuters reported.

That comes following months of civil unrest that have rocked the city and periodically degenerated into violence.

One analyst said the development was a “stunning victory” for pro-democracy candidates.

“I don’t think anyone expected this,” Fraser Howie, an independent analyst, told CNBC’s “Street Signs” on Monday. “Here is a very clear sign, three million Hong Kongers came out in a very orderly fashion, made their votes and sent a very clear signal to the establishment.”

“The message has been sent across the board, across almost every … constituency, is that there is great distrust and frustration with the government and with (Hong Kong Chief Executive) Carrie Lam,” Howie said.

Mainland Chinese stocks were mixed on the day. The Shanghai composite rose 0.72% to around 2,906.17, while the Shenzhen component was just below the flatline at 9,626.36. The Shenzhen composite also shed 0.439% to approximately 1,600.45.


Company: cnbc, Activity: cnbc, Date: 2019-11-25  Authors: eustance huang
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