Hong Kongers are literally using the financial markets, considered the beating heart of the global capitalist system, to fight the nominally “Communist” rulers in Beijing. One day after Hong Kong police arrested media Tycoon Jimmy Lai, who holds British citizenship as well, the stock of Next Digital, Lai’s media company which owns Apple Daily, HK’s most popular daily newspaper, and a frequent thorn in the side of the CCP.
Monday’s frenzy of activity began early when police picked up Lai from his Ho Man Tin home at 7am. His two sons were arrested, together with the firm’s CEO Cheung Kim-hung, chief administrative officer Wong Wai-keung, its animation arm’s director Kith Ng Tat-kong, and Royston Chow Tat-kuen, the chief operating officer and chief financial officer.
It seems the Hong Kongers, regardless of their new-found Communist overlords, are a perfect example of capitalist activists, because amazingly upon the arrest of Jimmy Lai, a wave of what could be described as ‘protest buying’ saw shares in Next Digital (the owner of Jimmy Lai’s Apple Daily) soar. The surge has continued for two days, as Jimmy Lai was subsequently released. Read more…..
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CNBC’s Eunice Yoon reports on rising U.S.-China tensions as sanctions are imposed on 11 Americans and two critics of the Chinese government are arrested.