HK financial chief warns of "perfect financial storm"

The Financial Secretary of Hong Kong Special Administrative Region John Tsang has warned that political instability may increase the risk of what he called "a perfect financial storm," calling on the public to respect each other and to stop pointing the finger at people with opposing views.

His comments came amid a deep division within the community between those who support and oppose the Occupy Central. More than 1 million people have expressed their views on the civil disobedience movement over the past few weeks.

Writing in his weekly blog, Tsang urged those who are considering to take to the streets to fight for universal suffrage to think twice. He said such action would not help forge a consensus on the electoral method for the chief executive election in 2017.

Tsang said the outcome of the political reform would have considerable effects on the territory's economy and financial markets.

He expressed his worries that such political uncertainty could provide international speculators a chance to target the local market, which he said, may lead to catastrophic results.