Hong Kong Stock Exchange Plummets Due to China’s Security Law
The Hong Kong stock exchange crashed sharply on Friday. Investors were shocked by the news that China is going to enact laws to ensure “national security” in Hong Kong and Macau.
Hong Kong and Macau have more liberties than the rest of China. Beijing wants the law mainly to get a better grip on the anti-Chinese and pro-democratic protests in Hong Kong.
The Hang Seng index in Hong Kong lost more than 5 percent in the meantime.
Opposition members in the city are deeply concerned about the new Chinese law Beijing wants to silence critics and call for further demonstrations.
The law threatens the constitutional principle of one country, two systems, under which Hong Kong may operate its own economic and administrative procedures.
US President Donald Trump warned that the United States would “react strongly” if China enacts the law.
