The coronavirus is causing economic disruptions in Hong Kong and mainland China that could have a negative impact on performance this year, the bank warned. HSBC shares trading in Hong Kong closed 2.8% lower. On Monday, Apple cut its sales expectations for the quarter and warned of the impact on the global supply chain. Months of pro-democracy protests in Hong Kong “weighed on the local economy and caused significant disruption,” Quinn said. The protests have pushed Hong Kong’s economy into recession as businesses that once thrived from mainland tourism have taken a hit.

Source: bd News24 February 18, 2020 19:30 UTC