Hong Kong unrest wipes $15bn from local tycoons

Pedro Gonçalves
clock • 3 min read

Hong Kong's political crisis has swept over the fortune of its 10 richest tycoons, with the stock market rout costing them about $15bn, the FT reports.  The stock market has seen its gains for the year wiped out amid escalating conflicts between police and protesters.The benchmark Hang Seng index has dropped 9% in August, taking it into the red for 2019 amid a sell-off in both Hong Kong-focused stocks and those at risk from broader unrest. HSBC Holdings' shares have plunged 13% in just three weeks and are the most oversold since at least 1989, while BOC Hong Kong Holdings Ltd has drop...

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