Hong Kong Dollar, Stocks Retreat Amid Protest Crackdown
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Hong Kong’s stocks fell the most in almost three weeks, the city’s currency weakened and equity-market volatility surged amid the biggest police crackdown on protesters since the city returned to Chinese rule.
The benchmark Hang Seng Index sank 1.9 percent to 23,229.21 at the close in Hong Kong, its biggest loss since Sept. 10, as developers and retailers tumbled. A gauge of stock volatility jumped 24 percent, the steepest surge in three years. The city’s currency slid to a six-month low and one-year interest-rate swaps climbed the most in 15 months.