The banking system and financial markets worked normally last week, while seven branches of seven banks were shut yesterday due to potential or actual disruptions amid pro-democracy protests in the jurisdiction.

The banking system and financial markets worked normally last week, while seven branches of seven banks were shut yesterday due to potential or actual disruptions amid pro-democracy protests in the jurisdiction, regulators said.

Yesterday, the Hong Kong dollar was trading at around 7.760 levels per dollar. “There was ample liquidity in the interbank markets and interbank rates remained steady. The Real Time Gross Settlement systems and Central Moneymarkets Unit operated smoothly with normal turnover,” the Hong Kong Monetary Authority said in a statement.

As at 7 am yesterday, seven branches of seven banks were affected and remained temporarily closed.  

Some of the suspended ATMs in the affected areas have resumed normal operation while some were still closed.  The HKMA has requested banks to resume normal services as soon as circumstances permit, it said.

Media reports said the pro-democracy protesters in Hong Kong experienced decline in numbers yesterday amid preparation for talks with the authorities about the protesters’ demands for unfettered elections.

The protests have weighed on markets. As reported elsewhere by WealthBriefingAsia, Credit Suisse’s private banking arm has said the protests are a reason for caution – for the time being – about the Hong Kong equity market.