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Hong Kong Stocks Greet New Law With Gains, Backed by Mainland

  • Stocks, local dollar have stabilized since first shock in May
  • Confidence remains muted, local economic outlook challenging
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Hong Kong's Security Law Explained
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Stocks in Hong Kong rose on their first trading day since new national security laws were imposed on the city, amid signs mainland Chinese buying was behind some of the gains.

The Hang Seng Index climbed 2.9%, led by property companies, and the city’s currency was near the strongest it’s allowed to trade. A measure of offshore China stocks surged 3.1%, the biggest gain in three months.