Hong Kong economy takes a beating as protests reach 80 days

Asia's financial hub sees just one IPO in August while tourism declines

20190828 HONGKONG-PROTESTS/

Protesters clash with police in Hong Kong on Aug. 25. The demonstrations have continued for longer than the pro-democracy Umbrella Movement in 2014. © Reuters

TAKESHI KIHARA and YUSHO CHO, Nikkei staff writers

HONG KONG/SHANGHAI -- Protests in Hong Kong crossed the 80-day mark on Tuesday with no end in sight, dealing a heavy blow to a wide range of economic activities in the city from stock debuts to tourism.

The demonstrations, triggered in June by a controversial extradition bill, have now surpassed the length of the pro-democracy Umbrella Movement in 2014. But protesters and Hong Kong's government remain miles apart, jeopardizing the city's status as a key Asian financial hub and damaging its role as a bridge between the mainland and the rest of the world.

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