A hard-core of between 5,000 to 10,000 protestors are continuing to demonstrate in the business district in Hong Kong, as tensions remain high.

 

Temperatures were raised significantly after the beating of a handcuffed protestor by six policemen earlier this week, along with the fact that a broadcaster captured this secretly on film and then released it widely both inside and outside of Hong Kong yesterday. (The police officers have now been suspended).

Reliable sources in Hong Kong say this has only increased the determination of protestors to continue with their street presence, which is now entering its third week. They say the incident has also shocked and surprised many in Hong Kong who are so used to a police force with such a good record for fairness and restraint over the years – not one that routinely uses tear gas and pepper spray on its citizens, as has occurred sporadically during these protests.

 

Having said this, the size of the current protest today is very modest compared to the estimated 80,000 to 100,000 who blocked key streets in the Hong Kong business district at the end of September and in the early days of October. But sources say there are signs that many ordinary people are beginning to lose patience with the protestors – and not just businesses.

 

These include commuters, bus and taxi drivers and clearly some police officers. One source told TRBusiness that these numbers may swell at the end of the month when employees of retailers and businesses count the cost of the disruption in terms of lost pay check bonuses.

Conflict in Mong Kok at the beginning of this month (Image credit: Wing 100hk).

 

 

BRAND SALES HAVE FALLEN BY HALF

Business has continued to be impacted negatively in the Central District and Mong Kok, with sources estimating brand sales are down by roughly half here. However, many Chinese and other tourists are said to have cannily chosen to stay on the Kowloon side where business has been much better. The airport retail business is also said to be operating normally.

 

Perhaps putting it into perspective was the success of an international watch fair at the Hong Kong Exhibition Centre last week where exhibitors and visitors are understood to have been very happy with the quality of exhibitors and numbers of visitors – a sure sign that the remaining protests in Hong Kong are now modest and very localised compared to a week ago.

 

But perhaps most significantly, most of those TRBusiness has spoken to in Hong Kong over the last two days agree that something has got to give with this impasse – particular considering that some of the worst violence – albeit isolated in nature and numbers, has been seen in the last two days.

 

The stand-off between the protestors and the police is on one level, while the protestor’s demands are on another and just to make it event more complicated there are continued calls for CY Leung, the CEO of Hong Kong SAR to resign following alleged payments from an Australian company in the past.

 

Hong Kong is also very concerned that it preserves its reputation as a financial centre of choice and the number of western brand owners currently pointing to the troubles there as negative influences on performance is growing. Only this week, Burberry pointed to lower sales due to the protests in Hong Kong and LVMH has also reported a slowdown in the region in the third quarter, which has also been partially due to the events in downtown Hong Kong.

 

TOP IMAGE: Stand off. Protestors and the police at the district of Mong Kok last week (image credit: Umbrevolution).