Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Hong Kong banks shutter branches again after COVID cases hit record high

Published 07/20/2020, 12:10 AM
Updated 07/20/2020, 12:15 AM
© Reuters. FILE PHOTO: Logos of HSBC and Standard Chartered banks are seen at their headquarters in Hong Kong

HONG KONG (Reuters) - HSBC (L:HSBA), Standard Chartered (L:STAN) and other banks in Hong Kong closed branches or curtailed their working hours on Monday after a spike in the number of new coronavirus cases in the Asian financial hub.

Hong Kong recorded more than 100 cases in a 24-hour period over the weekend, the most since the pandemic took hold in late January.

The rise in cases took the tally close to 2,000 patients, 12 of whom have died.

Hong Kong banks shut scores of branches in late January when the first wave of the coronavirus cases hit the city. These later reopened as case numbers dropped.

Bank of China (Hong Kong) (HK:2388) said in a statement on Monday it would suspend services at nine branches due to the spread of the virus. It had already suspended services at three branches, one of which reopened on Monday.

HSBC said in a separate statement it would temporarily close two business centres for commercial banking and three mobile branches operating from trucks, and shorten operating hours at all branches.

HSBC subsidiary Hang Seng Bank (HK:0011) closed one branch for 14 days for deep cleaning after a member of staff preliminarily tested positive for COVID-19, it said on Sunday.

Standard Chartered and Bank of East Asia (HK:0023) said they would shorten branch opening hours.

On Sunday, Hong Kong Chief Executive Carrie Lam announced tighter coronavirus restrictions with non-essential civil servants told to work from home.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Amusement parks, gyms and 10 other types of venues will remain closed for another seven days, while a requirement for restaurants to only provide takeaway after 6.00 p.m. was extended. Face masks will be mandatory in indoor public areas.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.