Hong Kong bank recovers from run

BBC

The Bank of East Asia (BEA) in Hong Kong has recovered from a run on its deposits, after a cash injection from the government.

Hong Kong's central bank has added an estimated HK$3.9bn ($500m, £269m) to the territory's banking system.

The government has also repeated the bank's assurances that it is sound and that depositors have nothing to fear.

On Wednesday, rumours that the bank was vulnerable spurred thousands of people to withdraw their money.

On Thursday, the queues at bank branches were much smaller and before midday local time, the stock market had recovered most of what it had lost the day before.....