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Global stocks fall as Hong Kong pro-democracy protests spread


economy

Global stocks fall as Hong Kong pro-democracy protests spread

Companies exposed to Hong Kong underperformed weaker European stocks as civil unrest in the Chinese city hit banks like HSBC, Citigroup and Standard Chartered.

London’s FTSE fell and closed down 2.79 points at 6,646.60. The top share indexes also fell in Frankfurt, Paris, Madrid and Milan.

Losses on Wall Street were initially broad as investors shrugged off the latest data showing strong US economic growth.

With China a key export market for miners, concern over demand for metals hit mining stocks. Firms with big Asian operations like Rio Tinto and BHP Billiton dropped 1.3 percent and 0.7 percent respectively.

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