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Hong Kong unrest and implications for the Hang Seng Index

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  • Lucía Morales
  • Bernadette Andreosso-O’Callaghan

Abstract

With the September 2014 ‘Umbrella Revolution’ in Hong Kong, China faced one of the biggest political challenges since the Tiananmen Square events. Beijing’s proposed electoral reform was perceived as a direct attack to democracy, and the ensuing protest triggered concerns amid local and international investors; the financial sector took the hardest hit, with stocks of companies exposed to the Hong Kong market facing significant losses. Volatility continued to increase to a seven-month high over worries that the student blockade in Hong Kong’s streets could drag on for longer than expected. The econometric-based analysis in this paper looks at the implications of the protest and its spillover effect on the Hang Seng Index with a focus on sectoral performance. The ultimate objective is to gain a better understanding of the impact of the protests on different stocks and sectors with the goal of identifying market vulnerability and potential volatility patterns.

Suggested Citation

  • Lucía Morales & Bernadette Andreosso-O’Callaghan, 2019. "Hong Kong unrest and implications for the Hang Seng Index," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 24(1), pages 82-96, January.
    • Handle: RePEc:taf:rjapxx:v:24:y:2019:i:1:p:82-96
    DOI: 10.1080/13547860.2018.1503766
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    Cited by:

    1. Zainudin, Ahmad Danial & Mohamad, Azhar, 2021. "Financial contagion in the futures markets amidst global geo-economic events," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 288-308.

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