Read more about In support of Jimmy Lai: Hong Kong protestors drive 1,100% stock gain on Business Standard. Now Hong Kong’s pro-democracy supporters are wielding a new protest weapon: their stock-market trading accounts.
They’ve occupied Hong Kong’s central business district, marched by the hundreds of thousands through the city’s streets and endured tear gas and pepper spray in pitched battles with riot police. Now Hong Kong’s pro-democracy supporters are wielding a new protest weapon: their stock-market trading accounts. To show support for Jimmy Lai, the publisher and outspoken government critic who was arrested Monday under the city’s new national security law, Hongkongers have been piling into shares of his media company, Next Digital. The result: A more than 1,100 per cent surge in two days that propelled the stock to a seven-year high. “There are a huge number of retail investors buying,” said Castor Pang, head of research at Core Pacific-Yamaichi.
