HONG KONG (Bloomberg): More than 5,600 retail jobs could be lost and thousands of stores shut down over the next six months, as pro-democracy protests in Hong Kong continue to disrupt sales during the crucial festive period. About 30% of respondents in a survey by the Hong Kong Retail Management Association said they'll cut jobs while 43% said they can't continue to operate beyond six months. The anti-Beijing demonstrations, which started in June, have seen both peaceful mass marches as well as violent actions. Hong Kong's economy has slid into a recession and the pain has rippled across the retail, tourism and hospitality sectors. Retail sales for the current month is likely to be similar to the record-low levels seen in October or slip even more, she said.

Source: The Star December 10, 2019 00:00 UTC