Cnn business news 26 may 2019 in hong kong
According to the CNN Business News archives, here are some of the top stories from May 26, 2019, in Hong Kong:
Hong Kong protests:
- Thousands of protesters gathered in Hong Kong's financial district, demanding greater democracy and autonomy from China. The protests were sparked by a proposed extradition bill that would allow Hong Kong to send suspects to mainland China for trial.
- The protests turned violent, with police firing tear gas and rubber bullets to disperse the crowds. At least 22 people were injured, including several police officers.
Economy:
- Hong Kong's economy grew at a slower pace in the first quarter, with GDP expanding 0.5% year-on-year. The city's economy has been struggling due to a decline in exports and a slowdown in the global economy.
- The Hong Kong government announced plans to inject HK$120 billion (US$15.4 billion) into the economy to stimulate growth and create jobs.
Markets:
- The Hong Kong stock market fell sharply, with the Hang Seng Index dropping 2.5% to its lowest level in over a year. The decline was driven by concerns over the protests and the impact on the economy.
- The US dollar strengthened against the Hong Kong dollar, with the exchange rate hitting a 10-year high.
Business:
- Cathay Pacific, Hong Kong's flagship airline, announced plans to cut 8,500 jobs, or about 20% of its workforce, due to a decline in passenger demand and rising competition.
- The Hong Kong government announced plans to introduce a new tax on electronic transactions, aimed at generating revenue and reducing the city's reliance on property taxes.
These are just some of the top stories from CNN Business News on May 26, 2019, in Hong Kong. If you're looking for more information or specific articles, please let me know!