Further protests in Hong Kong
could hit the city's economy, especially the small and medium
enterprises (SMEs), Bank of East Asia warned on
Wednesday, after reporting a 75% plunge in its first-half net
profit due to loan writedowns in mainland China.
Germany's BDI industry
association said on Wednesday that British Prime Minister Boris
Johnson's call to re-open the Withdrawal Agreement was
irresponsible and said German firms had no choice but to prepare
for a hard Brexit on October 31.
A major bank warned on
Wednesday that weeks of protests in Hong Kong could hit the
economies of the Chinese-ruled city and mainland China itself as
demonstrators prepared a sit-in at a subway and site of a
mid-summer mob attack.
Chinese stocks were largely
unchanged on Wednesday as the market awaits clues from
policymakers at home and abroad this week on further support to
shore up growth amid a protracted trade war between the world's
two largest economies.
Goldman Sachs has
applied for majority control of its Chinese joint venture, the
bank confirmed on Wednesday, the latest international bank to do
so ahead of Chinese plans to eventually allow foreigners full
Norway's Financial Supervisory
Authority (FSA) found significant shortcomings in DNB's
compliance with anti-money laundering regulations during a
late-2018 inspection, the bank regulator said in a report
released on Wednesday.
Italian President Sergio Mattarella
begins two days of talks with parties on Wednesday to seek a way
out of a political crisis that will lead to the formation of the
country's 67th government since World War Two or to early
European shares rebounded from the
previous session's sharp falls on Wednesday, with brokers
pointing to an Italian report on continuing merger talks between
Fiat Chrysler Automobiles and Renault SA as
pushing car industry shares higher.