Conglomerate Swire Pacific became the latest major Hong Kong company t...
“The protests in Hong Kong have had some effect on retail sales at our malls, particularly at Pacific Place. If the protests continue, sales are likely to continue to be affected,” Michelle Low, Swire Pacific finance director said in the interim results statement on Thursday, referring to its high-end shopping mall in Admiralty, a financial district where many of the mass protests took place.
Hong Kong’s Secretary for Commerce and Economic Development Edward Yau said on Thursday the drop in inbound tourists accelerated in the past few weeks, with the first week of August declining 31% from a year ago, compared to just single digit percentage drop in mid-July.
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