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| Hong Kong protests weigh on financial firm shares | |
| (35 minutes later) | |
| Asian markets mostly rose even as political unrest in Hong Kong hit investor sentiment and dragged down shares of Chinese financial firms. | |
| Hong Kong's Hang Seng Index fell nearly 2% while its currency hit a six-month low against the US dollar. | |
| Riot police fired volleys of tear gas at thousands of pro-democracy protestors early on Monday and many are concerned the clashes could intensify. | Riot police fired volleys of tear gas at thousands of pro-democracy protestors early on Monday and many are concerned the clashes could intensify. |
| Several large banks have said they will be suspending operations in Hong Kong. | Several large banks have said they will be suspending operations in Hong Kong. |
| Ryan Huang from IG Markets said businesses most likely to be affected by the unrest include retailers and tourism-related firms. | Ryan Huang from IG Markets said businesses most likely to be affected by the unrest include retailers and tourism-related firms. |
| "With China's National Day Holidays starting on October 1, these companies will suffer the brunt of any drop on tourist numbers to Hong Kong," he said. | "With China's National Day Holidays starting on October 1, these companies will suffer the brunt of any drop on tourist numbers to Hong Kong," he said. |
| "The recent stream of China macro data has not been particularly strong to bolster investor confidence, and worsening sentiment will not do the markets any favours." | "The recent stream of China macro data has not been particularly strong to bolster investor confidence, and worsening sentiment will not do the markets any favours." |
| The political unrest in Hong Kong is the worst the city has seen since China took control of the previously British territory two decades ago. | The political unrest in Hong Kong is the worst the city has seen since China took control of the previously British territory two decades ago. |
| M&A movers | M&A movers |
| Elsewhere in the region, shares in Australia's Treasury Wine Estates slumped by 15% after it ended takeover talks with two private equity firms. | |
| The world's largest listed wine producer said shareholders felt the offers from KKR and rival bidder TPG Capital Management were insufficient. | The world's largest listed wine producer said shareholders felt the offers from KKR and rival bidder TPG Capital Management were insufficient. |
| Both firms had offered $5.20 Australian dollars per share, which valued Treasury Wine at about $3bn (£1.8bn). | |
| Meanwhile, Japanese group Softbank saw its shares jump on reports that it is in talks to buy Hollywood studio Dreamworks Animation, the maker of "Shrek" and "Kung Fu Panda". | |
| Softbank shares rose up 1.5% in Tokyo, outpacing the broader market gain. | Softbank shares rose up 1.5% in Tokyo, outpacing the broader market gain. |
| Japanese drugmaker Daiichi Sankyo saw its shares fall by 0.65% after it agreed to buy US oncology specialist Ambit Biosciences. | |
| Daiichi Sankyo will pay about $315m for the San-Diego based biopharmaceutical firm, which produces treatments for cancer and inflammatory diseases. |