21:31:12 EDT Thu 06 Aug 2020
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Manulife Financial Corp
Symbol MFC
Shares Issued 1,948,859,681
Close 2019-11-19 C$ 26.08
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FP says Hong Kong protests weigh on Manulife, others

2019-11-20 09:24 ET - In the News

Also In the News (C-GOOS) Canada Goose Holdings Inc
Also In the News (C-SLF) Sun Life Financial Inc

The Financial Post reports in its Wednesday edition that Canada Goose Holdings entered Hong Kong in late 2018, opening two retail locations there. The Globe's Victor Ferreira writes that last week, Canada Goose's chief executive officer Dani Reiss said the Hong Kong protests were hurting the company but was resilient about how the company was developing markets for "decades, not just the next quarter." Insurers Manulife Financial and Sun Life Financial had similar messages during their third quarter earnings calls in early November. Both hinted to investors of potential headwinds in the short term but were confident that the protests would not impact their long-term strategy in Hong Kong. Those companies already have a strong presence in Hong Kong. For those that are still attempting to expand in the region, the protests offer a different challenge. Drew Dorweiler, the managing director of Montreal-based boutique investment bank IJW and Co., has not flown to Hong Kong since the protests have become increasingly violent. He says he can maintain his business from Montreal and continue to connect companies from Canada who are looking to buy or sell assets to those in Hong Kong, but he cannot grow his network.

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