Date
12 December 2017
A road block set up by protesters shows a deserted road leading to Hong Kong's main business and financial district. Photo: Reuters
A road block set up by protesters shows a deserted road leading to Hong Kong's main business and financial district. Photo: Reuters

Business as usual for exchange despite Central lockdown

Hong Kong’s stock market opened as usual on Monday.

Charles Li, chief executive of Hong Kong Exchanges and Clearing Ltd., said emergency plans are in place in case the situation worsens.

He said the market may suffer short-term turbulence but the exchange is prepared for it.

However, Li did not say how a prolonged blockade of Hong Kong’s main business and financial district would affect the launch of cross-border stock trading expected next month, public broadcaster RTHK reported Monday.

He said communication between the Hong Kong exchange and its Shanghai counterpart will not be affected.

Meanwhile, monetary authorities allowed banks to take precautionary measures. 

At 10.30 a.m., six bank branches, offices or ATMs had re-opened while another 13 had been closed.

A total of 36 branches, offices or ATMs of 20 banks are temprarity shuttered.

The interbank market and payment and settlement services will function normally, as well as the currency board system which maintains the stability of the Hong Kong dollar exchange rate, the report said, citing the Hong Kong Monetary Authority.

It said it is prepared to inject liquidity into the banking system if necessary.

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