July 15, 2020

Hang Seng loses 1.7% at login after protests

The main index of the Hong Kong Stock Exchange, the Hang Seng, lost 1.7% in the initial negotiation stage today, after the return of the massive protests against the national security law that the Beijing Government plans to apply.

After the first thirty-five minutes of trading, the Hang Seng lost 390.65 points today, up to 22,539.49 integers, while the Hang Seng Enterprises, the benchmark index that brings together the Chinese values ​​of the mainland, fell 0 , 76%.

The falls spread to all sectors. The financial sub-index lost 0.79%; that of public services, 1.67%; real estate, 1.79%, and commerce and industry, 0.42%.

The Hang Seng continued like this with its clear downtrend with which it ended last week, when it closed with a decrease of 5.56% due to the concern about the consequences of the approval of the new national security laws in Hong Kong that has brought forward Beijing.

On the eve, thousands of citizens protested in the streets of the former British colony against the security law, considered by protesters as a threat to their civil liberties and against the autonomy that the city of Hong Kong maintains.

Police used tear gas and water cannons to break up protests in a central Hong Kong business district against the so-called national security law, which is currently being debated in the Chinese People’s Congress (ANP) and is expected to pass before it conclusion this Thursday.


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