Hong Kong Stocks Advance as Protests Force Climbdown on Bill

Finance sector leads gains as benchmark Hang Seng Index rises
Controversial extradition bill halted after historic protest

David Webb, activist investor and founder of webb-site.com, talks about Hong Kong’s contentious bill.(Source: Bloomberg)

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By Livia Yap, Jeanny Yu, and Magdalene Fung

June 17, 2019 at 1:15 AM UTC

Updated on

June 17, 2019 at 8:30 AM UTC

This article is for subscribers only.

Hong Kong stocks advanced after the government suspended a controversial extradition bill that spurred some of the city’s biggest protests in decades.

The Hang Seng Index rose 0.4%, paring an earlier rally of 1.4%, with the finance sector leading gains. The index slumped 2.4% in the previous three trading days, the worst performance among 94 global gauges, amid concern about the worsening political environment and tightening liquidity. A Hang Seng measure of Chinese companies rose 0.1% Monday.