Riots in Hong Kong after heavy stock losses

[aggiesal]

Source: RTE

Wednesday, 8 October 2008 13:34

There have been riots on the streets of Hong Kong following heavy losses at the city's Hang Seng index.

The Hang Seng closed over 8% lower with losses in banks, communications companies and exploration companies.

Customers are trying to get their money out of bank branches and many are protesting about losses related to the collapse of Lehman Brothers.
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Earlier, trading on the stock exchange in Jakarta was halted because today's falls were so severe.


Read more: http://www.rte.ie/news/2008/1008/hongkong.html

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How will this play in New York tomorrow?

[Speck Tater]

1. That was last night. New York has already reacted.

It's very early AM in Hong Kong now. Nothing is open yet.

[aggiesal]

4. Good Point !!! n/t

[louis-t]

2. So it's official? bush ruins

all hemispheres?

[GinaMaria]

25. bush ruins the world

That would make an accurate headline.

[Jamastiene]

26. ...and to think...

I only thought Bush would destroy the US. I had no idea he'd destroy the entire planet. Un-fucking-believable.

[LiberadorHugo]

3. No surprise there...

The fucking parasites in Beijing and in the corporate towers refuse to let them create a welfare state

[Earth_First]

5. How long before we begin seeing this more widespread?

Eventually making it here to the U.S.

[Sequoia]

6. Do you think a trip to Hong Kong these days oughta be delalyed?

Might Amercians walking around might be a target of their anger?

[Phred42]

7. Phuck 'em

[brentspeak]

8. Hong Kong seems to have a thing with riots:

http://en.wikipedia.org/wiki/Category:Riots_in_Hong_Kong

[snot]

21. more than we?

[brentspeak]

22. Is the article about America?

[Doctor_J]

9. I wish Americans had enough spirit to riot

over anything

[Blue_Tires]

10. we riot over college football games!

that has to count for something!

[Doctor_J]

24. True. And there is usually some vandalism by fans of the team

that wins the World Series or NBA title. Too bad Gitmo and Iraq and stolen elections don't arouse the same level of passion

[Owl]

16. I'm with you on that one.

Too damn much complacency.

[muriel_volestrangler]

11. Hmm - I doubt many people betted on Hong Kong being the first riots:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4181108&mesg_id=4181108

[sarcasmo]

13. I called Flint, that's why I don't bet, :)

[sarcasmo]

12. Lazy Americans sit on the couch and watch their TEEVEE.

[Skink]

14. We'll riot when tv goes digital and we don't have the converter.

[htuttle]

15. And THAT is why The Revolution Won't Be Televised!

[bbchris]

17. www.rte.ie is wrong!

Well over here in Hong Kong I was really surprised to read about the riots! What riots?!?! Yes the Hang Seng Index (HSI) fell but there were no riots. Please double check information from www.rte.ie in future!

Or subscribe to Hong Kongs best English newspaper, South China Morning Post (http://scmp.com) and no I dont work there or anything, just that you can read the headlines on the front page even if you are not a subscriber and if we had riots here it would most definitely be FRONT PAGE news!! lol

[KamaAina]

19. RTE is the national broadcasting service of Ireland

normally a reliable source. (.ie is Ireland's top-level domain.)

I'll take your word that they misreported this, but it's not like it's some :tinfoilhat: site based in somebody's mom's basement.

[AlphaCentauri]

23. Not really, AFP is reporting the same thing

Hundreds of HK investors protest Lehman-bond mis-selling
1 day ago

HONG KONG (AFP) — Furious investors clashed with police outside Bank of China's Hong Kong headquarters Wednesday and demanded the repayment of investments linked to failed US bank Lehman Brothers.

Scuffles erupted outside the Bank of China building, as protesters tried to push through the police's barricade, an AFP photographer at the scene said.

Hundreds of protestors also swarmed other major banks and the city's legislature, grabbing lawmakers and demanding help to recoup their money.

The protestors, who complain that the banks which sold them the so-called "mini-bonds" had not fully explained the risks involved, held placards and shouted slogans to demand a full refund of their investments.

Lawmakers promised to do all they could to pressure the government to take more aggressive action against the banks.

Wong Kin-ming, a retired hawker who had put his entire savings of 2.52 million Hong Kong dollars (320,000 US) into the bonds, said his financial advisor at one major bank told him there was no risk in the investment.

http://afp.google.com/article/ALeqM5huq5gqOT7LvTF2Qv9I0OSzZz1cEg

[daleo]

18. I looked at my mutual funds today

I understand the temptation to riot.

[unkachuck]

20. the wall street....

....boys stuck the world with 65 trillion dollars worth of junk investments, pocketed the profits and now Hong Kong is rioting? Who do these Chinese Communists think they are? Smile, it's called US Capitalism, not Chinese Communism....invent your own scam....

"...many are protesting about losses related to the collapse of Lehman Brothers..."

....simple, next time the wall street boys are selling junk, don't buy it....