Hong Kong Banks Hit by Protests

HONG KONG--Some of Hong Kong's biggest banks were forced to shut branches, suspend some services and activate contingency plans on Monday, as pro-democracy protests continued to grip several parts of the city.

Protesters have gathered throughout downtown Hong Kong and other locations, including in the Causeway Bay shopping district and across the Victoria Harbour in parts of Kowloon.

By early Monday, 17 banks had closed 29 branches or offices across the city.

Standard Chartered Bank PLC, HSBC Holdings PLC, Bank of East Asia Ltd., Bank of China Hong Kong and China CITIC Bank International Ltd. were among those who said their operations were affected by the protests.

The banks said they were temporarily closing branches in some locations, including in central Hong Kong and Causeway Bay.

The Hong Kong Monetary Authority, the city's de facto central bank, said it has activated its own contingency plan and is ready to inject liquidity into the banking system. The HKMA said it expects the city's money markets to operate as normal.

Write to Enda Curran at [e-mail]

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