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Following no respite from the protests started since Monday, Hong Kong Government (Govt.) recently announced the suspension of schools will stretch till Friday to Sunday. Bloomberg relied on RHTK news while releasing the story, citing the chaos, which reported severe injuries to old and young alike.

Key quotes

Two people remain in critical condition from the recent clashes. One 70-year-old man was hit by what appeared to be a brick thrown by protesters,  according  to the government and police. A 15-year-old boy underwent brain surgery after sustaining a head injury from what may have been a tear gas canister.

Chief Executive Carrie Lam held a late-night session with her advisors and government ministers last night, according to reports, and maybe considering further measures. She has previously vowed not to give in to violent demonstrations.

FX implications

Markets are sensitive to any new developments in Hong Kong and news of worsening situations negatively affects the risk-tone. That said, the USD/JPY pair declines to 108.70 by the press time.