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The Hong Kong Retail Management Association warned this may not be the worst, saying it's possible that local retail sales to be assessed would be worse than in August and September, with 30 to 80 percent of shops forced to close on Oct 1 amid violent protests.

The Fed's new actions failed to boost US stocks immediately. The Dow Jones Industrial Average closed down 582.05 points, or 3.04 percent, at 18,591.93 on Monday. The S&P lost 67.52 points, or 2.93 percent.

The Hong Kong Chinese People's Political Consultative Conference (Provincial) Members Association said the act demonstrates the rise of protectionism and unilateralism in the US, and the fact that the country has been attempting to contain the development of developing countries.

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The Fuzhou, Fujian province-based Eternity is also expected to go public next year in the overseas market, Xiong said.

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The Financial Stability and Development Committee on Thursday said China's stocks have started to show promising signs of becoming valuable long-term investments, sending a positive signal to investors who are jittery about performance of the domestic A-share indexes in the year ahead.

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The House bill also includes an amendment that would bar Trump from attacking Iran without first obtaining Congress' approval. That amendment was considered key to winning enough support from the most liberal Democrats for the NDAA to pass the House.

The Hong Kong economy is facing tremendous challenges after the impacts of COVID-19 epidemic and social unrest, with the GDP down by 8.9 percent year-on-year in the first quarter of this year, the sharpest quarterly decline since 1974.

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The Framework Agreement on Guangdong-Hong Kong-Macao Cooperation in the Development of the Bay Area was signed earlier this month, addressing key cooperation areas including infrastructure, market integration, fueling innovation and improving the quality of life.

The Federal Reserve Bank has slashed interest rates to encourage lending and pumped billions of dollars into the financial system to stabilize the economy.