Jimmy Lai, one of Hong Kong's most prominent democracy activists, was arrested on Monday for suspected collusion with foreign forces under the national security law, in what is the highest profile arrest yet under the new legislation.
Hong Kong media tycoon and long-time China critic Jimmy Lai was found not guilty of criminal intimidation on Thursday. The pro-democracy activist was also arrested last month under Beijing's controversial national security law. Adam Reed reports.
CNN reports Hong Kong media tycoon Jimmy Lai was arrested early Monday. Lai is known for his support of the city's pro-democracy movement and criticism of China. The arrest comes under the new security law imposed on the city last month by Beijing, which bans "collusion with foreign forces." The Hong Kong Police Force say seven people were arrested, aged 39 to 72. Charges against them include collusion with foreign forces to endanger national security, and conspiracy to commit fraud.
Equity benchmark indices traded lower during early hours on September 22 while Asian markets opened weak after the sharp pullback overnight in US stocks. At 10:15 am, the BSE S-P Sensex was down by 301 points or 0.79 per cent at 37,733 while the Nifty 50 moved lower by 66 points or 0.59 per cent at 11,184. All sectoral indices at the National Stock Exchange were in the negative terrain with Nifty realty dipping by 4.6 per cent, PSU bank by 3.2 per cent, metal by 2.9 per cent and auto by 2.3 per cent. Among stocks, energy major GAIL was the top loser after sliding 4.9 per cent to Rs 83.85 per share. Adani Ports fell by 4.5 per cent and Tata Motors by 4 per cent. Tata Steel, Hindalco, ONGC, Bajaj Finance, Zee Entertainment and Bharti Infratel too traded lower by over 3 per cent. However, Tata Consultancy Services and ICICI Bank were in the green with thin margins. Meanwhile, Asian markets opened weak even after the sharp pullback overnight in US stocks. Investor sentiment took a hit with possible delays in expanded US stimulus. The undertone remained cautious as Europe sees some countries lockdown for the second time as COVID-19 cases jump which could hurt economic activity. Hong Kong shares of HSBC and Standard Chartered fell more than 2 per cent each as global banking stocks remained under intense pressure on reports about financial institutions allegedly moving illicit funds. MSCI's broadest index of Asia Pacific shares outside Japan was down by 0.5 per cent. Hong Kong's Hang Seng index was down by 0.5 per cent while Japanese markets were closed for a public holiday.
The owner of a children's clothing shop in Hong Kong has been issued with an order requesting the removal of a pro-democracy statue which contravenes the territory's controversial new national security..