Hong Kong protests planned for mob-attack subway as bank warns of economic fallout

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Hong Kong protests planned for mob-attack subway as bank warns of economic falloutA major bank warned on Wednesday that weeks of protests in Hong Kong could hit the economies of the Chinese-ruled city and mainland China itself as demonstrators headed for a sit-in at the subway site of a mid-summer mob attack. Hong Kong-based Bank of East Asia Ltd (BEA) posted a 75% slump in first-half net profit after it wrote down loans in China because of a downturn in commercial property markets outside China’s top cities. It also warned that social unrest in Hong Kong and a trade dispute between China and the United States could affect the economies of China and the former British colony.