Hong Kong (CNN Business) Hong Kong's Hang Seng index suffered its worst drop in a week Monday amid fears among investors about how the city's massive protests could hurt the local economy.

The political crisis was not the only factor to weigh on the Hang Seng , which fell as much as 1.6% in the afternoon and closed down 1%. Like other Asian markets, uncertainties about US-China trade and other economic policy this week dragged the index lower.

But stocks for property developers, shopping mall owners and retailers all sank Monday, indicating that the demonstrations have set the the financial world on edge.

"Investors are worrying about the worsening situation of the protests, as it's already hurting retail sales and property market," said Ben Kwong, an executive director of Hong Kong brokerage firm KGI Asia.

The big protests stretched into an eighth consecutive weekend and prompted a response from the city's financial secretary, who warned the actions could hamper local business. Demonstrators are calling for greater democracy, an independent investigation into police brutality and the resignation of the city's leader, Carrie Lam.

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