Hong Kong financial firms brace for disruptions as protests intensify

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#91
This is why I always wonder why so many people use the term "western values" as a derogatory term.

At the end of the day, most people only want to live in Asian societies to make hay while the sun shines but aspire to eventually migrate to western societies for a better future.

Western values, while not perfect, evolved over time through revolution and social movements to lead to a more equal society. Revolutions in Asian, African, Arab and Latin American societies just ends up replacing one dictatorship with another dictatorship, with little progress in society.

It seems that many of the HK tycoons and leaders are doing their utmost to maintain a highly unequal society for their personal benefit. In China, you cannot use FB or Twitter because the government there is terrified that information cannot be controlled and it may lead to their downfall.
Reply
#92
There is no perfect world... just a better place for your own circumstances... Politics is just another con job... end of the day, politicians draws good pay... try telling them to draw pay like another worker, who would stand up?

No Vested Interests
GG

(26-10-2014, 09:05 PM)investor101 Wrote: This is why I always wonder why so many people use the term "western values" as a derogatory term.

At the end of the day, most people only want to live in Asian societies to make hay while the sun shines but aspire to eventually migrate to western societies for a better future.

Western values, while not perfect, evolved over time through revolution and social movements to lead to a more equal society. Revolutions in Asian, African, Arab and Latin American societies just ends up replacing one dictatorship with another dictatorship, with little progress in society.

It seems that many of the HK tycoons and leaders are doing their utmost to maintain a highly unequal society for their personal benefit. In China, you cannot use FB or Twitter because the government there is terrified that information cannot be controlled and it may lead to their downfall.
Reply
#93
HSBC analyst quits in wake of Hong Kong downgrade
HARRY WILSON AND LEO LEWIS THE TIMES OCTOBER 27, 2014 12:00AM

AN HSBC analyst behind a controversial warning that protests in Hong Kong could lead to a fall in the value of the territory’s sharemarket has quit the bank.

Garry Evans, global head of equity strategy, will leave at the end of the year, only months after publishing a research report that drew widespread criticism for seeming to suggest HSBC was against the protest movement.

In an internal memo sent to staff, the bank confirmed Mr Evans’ departure after 16 years. It said it had been Mr Evans’ decision to leave. It is understood he has not been a named contributor on research notes published by the bank since September 24.

In early July, some months before pro-democracy protesters had followed through on their threats and occupied two of the largest highways in central Hong Kong, Mr Evans and his research team released a hefty research note to HSBC clients, downgrading Hong Kong-listed stocks on the basis the Occupy Central movement could generate “negative news flow”.

Mr Evans’ team predicted, with some accuracy given the past four weeks, that a widespread civil disobedience movement could generate friction between Hong Kong and the mainland Chinese government in Beijing. It remains unclear, however, whether Hong Kong has suffered the sort of economic fallout Mr Evans warned about and, after a substantial rally and a rout, the Hang Seng index is more or less exactly where it was when the note was published.

The July downgrade comment ran to only two sentences and was buried on page 23 of an 84-page quarterly strategy report.

One senior fund manager in Hong Kong described the tome as “the sort of document you would maybe skim, rather than read every word”.

However, it landed in investors’ inboxes at a sensitive time, when Hong Kong’s tycoons appeared to be using their weight to crush the democracy movement before it had flowered.

The Times
Reply
#94
(26-10-2014, 09:05 PM)investor101 Wrote: At the end of the day, most people only want to live in Asian societies to make hay while the sun shines but aspire to eventually migrate to western societies for a better future.

Most people? Surely that is an exaggeration. On the other hand, I know of people who left western societies for Asia.Tongue
Reply
#95
They should be expecting the move. For those be surprised, I doubt they know what they are doing?

I respect those "knowing what they are doing", and willing to accept the consequences, regardless whether they have same position as mine.

Stars backing HK protesters pay a price on the mainland

BEIJING — On the night of Oct 4, at one of the largest pro-democracy rallies in Hong Kong to date, Ms Denise Ho, a local pop singer, performed a new song, Raise The Umbrella, a reference to the ubiquitous umbrellas protesters have used to ward off pepper spray. Tens of thousands waved their lighted mobile phones in the air, the crowd ecstatic.

But it is unlikely that Ms Ho will be singing that song in mainland China, where, she said the other day, she gets about 80 per cent of her income, mostly from performances. She has had no invitations to perform there since the summer, when she began publicly showing support for the pro-democracy movement. A fashion brand recently cancelled a job with her, giving no particular reason, she said.

Mr Anthony Wong, another Hong Kong singer who has joined the pro-democracy demonstrations, said two shows next month in mainland China had been “indefinitely postponed” by concert organisers and that he had no pending invitations to perform there.

“I’m just guessing, but I think they are trying to ban us because they’re afraid of different views,” Mr Wong said. “They fear that we would spread them. And of course it’s an attempt to punish us, a cold-shoulder treatment of sorts, so we can’t earn their money.”

Mr Wong, Ms Ho and other artistic figures from Hong Kong and Taiwan — including actors such as Mr Chow Yun-Fat and Mr Tony Leung, and film-maker Shu Kei — have been among the most recognisable faces and voices during the protests that have occupied parts of the city for weeks. Some have spoken at rallies and mingled with students; others have used their social media accounts to express support for the demonstrators.

Before the protests, initially led by a movement called Occupy Central With Love and Peace, the names and faces of these performers were featured regularly on stages and screens in the mainland, as well as in advertisements. But now, they are being shunned by fans and companies in mainland China, on whose support many of their careers depend.

Arms of China’s state-run news media have denounced them as disloyal to their country. Photographs of a list containing the names of Mr Wong, Ms Ho and other artistes were circulated on social media this week. The list was said to be a blacklist of pro-Occupy artistes that had been sent to mainland news media outlets and entertainment firms, with instructions not to mention or promote the stars.

“Regardless of how official the bans might be, they can always achieve the same result by scaring off people or companies who might otherwise want to approach us,” said Ms Ho, who was camping out this week beneath an overpass near Hong Kong’s government headquarters, amid a sea of tents.

In a commentary published on Wednesday, state news agency Xinhua delivered a rebuke to celebrities backing the protests, hinting at further consequences to come.

“You have violated the principles of ‘one country, two systems,’ challenged the authority of the central party, ignored the Basic Law, and earned fistfuls of cash only to then turn and scold your motherland,” said the commentary, singling out Ms Ho, Mr Wong and Hong Kong actor Chapman To, who have been among the most visible celebrities at the protest sites. “Is this how you treat the country that gave birth to you and raised you?”

Even with the prospect of future reprisals, however, some celebrities, such as Mr Wong, who joined the campaign after he saw the police use tear gas on the protesters, have vowed to continue supporting the movement.

“It affects us a lot because much of my income comes from China, about more than half,” he said. “But I think this is what we have to do. Our markets there and money aren’t more important than our need to speak our mind.” THE NEW YORK TIMES
http://www.todayonline.com/chinaindia/ch...e-mainland
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#96
Hong Kong protests not just political: Alibaba's Ma
DOW JONES NEWSWIRES OCTOBER 28, 2014 8:30PM

As Hong Kong protests enter their second month, Alibaba's executive chairman Jack Ma weighed in on the events, saying the demonstrations are a reflection of the challenges facing the young.

Asked about the protests during the WSJD Live global technology conference in California, Mr Ma -- also the founder of Alibaba, the Hangzhou-based company that recently raised $US25 billion in the US's biggest initial public offering -- said that the protests were not simply political.

"The Hong Kong part of me (thinks) it's not about China and Hong Kong relationship. It's about the young people who don't have hope," said Mr Ma, a bootstrapping entrepreneur who's widely admired in China. "All the big guys take...the good things and the young people feel hopeless. I understand that but they should not push too much. Both sides should listen."

Hong Kong students have taken to the streets to protest Beijing's decision to allow only prescreened candidates to run for the city's highest chief executive position. Protesters are pressing to choose their own candidates, a move that Hong Kong's government and Beijing officials say isn't possible.

During his presentation, Mr Ma also spoke about how he hopes Alibaba will continue to disrupt the Chinese financial system, after its Alipay unit launched a money market fund that reached nearly $US100 billion after launching in June.

"If banks do not change, let's change the banks," he said, noting Alipay is the third-largest payment service in the world after Visa and Mastercard.

He said Alibaba wants to build up a credit system for individual and small businesses and "radically" change the Chinese financial system.
Reply
#97
China authority is serious on the HK current issue, even on the pro-China personnel...

The protest seems reaching a dead-end, the China authority's patience is running out, IMO...

HK lawmaker fired for breaking ranks with China

HONG KONG — The leader of Hong Kong’s Liberal Party said he would resign yesterday, only hours after China’s top parliamentary advisory body expelled him for calling on the city’s embattled Chief Executive to step down.

Mr James Tien Pei-chun was voted out of the Chinese People’s Political Consultative Conference (CPPCC) after he urged Hong Kong Chief Executive Leung Chun-ying to resign amid pro-democracy protests that have paralysed parts of the city.

This is the first time Clause 29, which allows the CPPCC to remove delegates for serious violation of the rules, has been invoked, Hong Kong public broadcaster RTHK said.
...
http://www.todayonline.com/chinaindia/ch...anks-china
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#98
The hong kong people are pawns in this american game if they choose the violent path once the chinese marines move in game over. I'm thinking martial law and curfew will follow. The west as in the Americans could impose sanctions it could be all along what they wanted to do to contain china at the bigger picture.

The Hongkies should just go home make their money and forget about trying be special.
Reply
#99
Let me share some insight on the unofficial ground sentiment. I'm following the below link:

https://www.reddit.com/live/tnc30xhiiqom

Some of the news are under control of China media, others are overly American-ized.

The situation is not as bad as it looks to be.. But in the short to medium run both china and hk will suffer.

The hk people really want a say because economically they have been suffering inequality at the societal level.

End of the day, its still about economics.

Sent from my D5503 using Tapatalk
Reply
I didn't have a direct experience, but base on the SME, taxi driver and logistic workers responses, the impact should be pretty bad, economically.

(30-10-2014, 11:02 AM)thor666 Wrote: Let me share some insight on the unofficial ground sentiment. I'm following the below link:

https://www.reddit.com/live/tnc30xhiiqom

Some of the news are under control of China media, others are overly American-ized.

The situation is not as bad as it looks to be.. But in the short to medium run both china and hk will suffer.

The hk people really want a say because economically they have been suffering inequality at the societal level.

End of the day, its still about economics.

Sent from my D5503 using Tapatalk
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply


Forum Jump:


Users browsing this thread: 8 Guest(s)