Markets Tumble as Tensions Soar

Asia Pacific markets saw losses throughout the region by Monday afternoon, as shares in Hong Kong tumbled amid worsening tensions in the city.

In Japan, the Nikkei 225 lost 60.03 points, or 0.3%, to 23,331.84.

The Japanese yen changed hands at 109.02 per U.S. dollar, strengthening from an earlier low of 109.25.

In Hong Kong, the Hang Seng Index plummeted 724.59 points, or 2.6%, to 26,926.55, as political turmoil in the city worsened. At least two protesters were said to be injured when local police opened fire on Monday at mass demonstrations. Over the weekend, three pro-democracy lawmakers were arrested.

Sectors across the board in the Hang Seng index tumbled, including property developers, tech, financial, as well as gaming stocks.

Korean markets lost strength, as major chipmaker SK Hynix slid 1.2%.

On the earnings front, Singapore’s DBS Bank reported a stronger-than-expected rise in its third-quarter net profit, which jumped 15% year-on-year to 1.63 billion Singapore dollars ($1.19 billion U.S.). Its third-quarter net interest income was up 8% to $2.46 billion Singapore dollars.
DBS shares in Singapore were down 0.34%.

The Australian dollar traded at $0.6856, declining from around $0.6900 from the previous week.

In other markets

In Shanghai, the CSI 300 dropped 70.03 points, or 1.8%, to 3,902.98

In Taiwan, the Taiex plunged 152.26 points, or 1.3%, to 11,427.28

In Korea, the Kospi fell back 13.14 points, or 0.6%, to 2,124.09

In Singapore, the Straits Times Index descended 23.65 points, or 0.7%, to 3,240.65

In Australia, the ASX 200 gained back 48.42 points, or 0.4%, to 6,772.52

In New Zealand, the NZX added 42.81 points, or 0.7%, to 10,919.79