Asia: Hong Kong stocks slide amid protests
Asian stocks were mixed as thousands of protestors gathered in Hong Kong to rally against changes to the political system.
Protesters are upset at reforms that will allow direct elections but only from a pool of candidates approved by Beijing.
"Investors are clearly seeing the situation in Hong Kong as a risk right now, and this is leading to a decline in the HKD,” said Jameel Ahmed, analyst for FXTM.
“The current USDHKD yearly high is recorded at 7.7674 and a combination of corporations suspending operations in Hong Kong alongside the protests not appearing to be concluding anytime soon, should lead to a re-test of this level."
Hong Kong’s Hang Seng index ended down1.90%. Shanghai’s composite rose 0.43% and Japan’s Nikkei was up 0.50%.
Separately, Sheng Songcheng, head of the statistics department at the People's Bank of China, on Monday told the Economic Daily that he believes the nations should strengthen targeted and structural policy adjustments to encourage the development of areas including small enterprises and emerging industries.
Beijing has launched a number of stimulus measures since spring to boost the economy.
In Japan, investors are waiting for a batch of data out late Monday including the unemployment rate, industrial production, retail trade and household spending.
On the company front, HSBC Holdings was the faller on the Hang Seng after lenders shuttered some branches in Hong Kong following weekend clashes with police.
Treasury Wine Estates dropped in Sydney after ending takeover talks with private equity suitors.
Sony Corp. rallied among Japanese exporters, supported by a weaker yen.