HSBC, other Hong Kong-exposed shares underperform as European equities fall

lunes 29 de septiembre de 2014 12:36 GYT

* FTSEurofirst 300 index falls 0.4 pct to 1,371.11 points

* HSBC, Standard Chartered fall as Hong Kong unrest hits markets

* Luxury goods sector also under pressure

* Greek market hit as banks fall and bond yields rise

By Sudip Kar-Gupta

LONDON, Sept 29 (Reuters) - HSBC, LVMH and other companies exposed to Hong Kong underperformed a broader drop in European stock markets on Monday as civil unrest in the Asian city continued.

Hong Kong democracy protesters defied volleys of tear gas and police baton charges to stand firm in the centre of the global financial hub on Monday, in one of the biggest political challenges for Beijing since the Tiananmen Square crackdown 25 years ago.

Banks in Hong Kong, including HSBC, Citigroup, Bank of China, Standard Chartered and DBS , temporarily shut some branches and advised staff to work from home or go to secondary branches.

HSBC fell 2.3 percent while Standard Chartered dropped 1.6 percent, making those two banks among the worst-performing stocks on the broader, pan-European FTSEurofirst 300 index , which ended down 0.4 percent at 1,371.11 points.   Continuación...