Hong Kong's worst protests since China took back control of the former British colony in 1997 haven't just decked the territory's stocks and currency, with analysts expecting longer-term economic repercussions.
"Hong Kong is a very small city. It is very dependent on the financial system and the financial markets for its income," Sean Darby, global head of equities at Jefferies, told CNBC. "The worry would be these types of protests and activities, in terms of disruption, start to have a long-term drain on the economy and on people putting in investment into the economy."
Riot police fired tear gas and launched a baton charge against Hong Kong democracy protestors early Monday, with protesters erecting barricades and scuffles breaking out between demonstrators and security forces. The protests spurred 17 banks to close as many as 29 branches, offices or ATMs temporarily, while many businesses in the central area remained shuttered.
Hang Sang Index fell as much as 2.5 percent in intraday trade, touching its lowest levels since July. The normally staid Hong Kong dollar lost ground, with the greenback fetching as much as $7.7647, spurring the territory's monetary authorities to reassure the markets that it stands ready to intervene to keep the currency within its proscribed trading band.