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Main chamber at the Legislative Council building after it was damaged by demonstrators during a protest. Photo: Anthony Kwan/Getty Images

Protests against a proposed Chinese extradition bill in Hong Kong have continued as groups of protesters occupied and ransacked the city's legislative chamber Monday and were met with tear gas. The city's leader, Carrie Lam, condemned the "extreme violence and vandalism."

Why it matters to the market: The growing unrest could dampen the territory's prominent financial market, which saw a major boom in the first half of the year.

  • Nearly 70 firms went public on the Hong Kong stock exchange, according to financial consultancy KPMG, a 40% increase from the same period last year. It was the highest number of new public companies during the first half of the year since 2014.

Millions of residents have taken to the streets and the protests are already impacting business decisions. Real estate developer ESR Caymen canceled its $1.24 bullion listing in June because of the turmoil, according to Japan's Nikkei Asian Review.

The bottom line: Analysts say the financial market has yet to suffer any serious consequences, but if protests lead to regulatory changes, "then that's a whole other story," Yuguchi Yutaka, partner in the KPMG Asia listing advisory group, told Nikkei.

Go deeper

Updated 20 mins ago - Politics & Policy

Arizona Republicans censure Cindy McCain and GOP governor

Combination images of Cindy McCain and Gov. Doug Ducey. Photo: FilmMagic/FilmMagic for U.S.VETS/Michael Brochstein/SOPA Images/LightRocket via Getty Images

Arizona Republican Party members voted on Saturday to censure prominent GOP figures Cindy McCain, Gov. Doug Ducey and former Sen. Jeff Flake (R-Ariz.), who've all faced clashes with former President Trump.

Why it matters: Although the resolution is symbolic, this move plus the re-election of Trump loyalist Kelli Ward as state GOP chair shows the strong hold the former president has on the party in Arizona, despite President Biden winning the state in the 2020 election.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

DOJ: Capitol rioter threatened to "assassinate" Alexandria Ocasio-Cortez

Supporters of former President Trump storm the U.S. Captiol on Jan. 6. Photo: Kent Nishimura / Los Angeles Times via Getty Images

A Texas man who has been charged with storming the U.S. Capitol in the deadly Jan. 6 siege posted death threats against Rep. Alexandria Ocasio-Cortez (D-N.Y.), the Department of Justice said.

The big picture: Garret Miller faces five charges in connection to the riot by supporters of former President Trump, including violent entry and disorderly conduct on Capitol grounds and making threats. According to court documents, Miller posted violent threats online the day of the siege, including tweeting “Assassinate AOC.”

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