Home / Security / Security: Hong Kong’s China enterprises index has best day in three months after security law – Reuters UK

Security: Hong Kong’s China enterprises index has best day in three months after security law – Reuters UK

Security:

* HK->Shanghai Connect daily quota used 23.9%, Shanghai->HK daily quota used 6.1%

* HSI +2.9%, HSCE +3.1%, CSI300 +2.1%

* FTSE China A50 +2.2%

July 2 (Reuters) – Hong Kong stocks posted strong gains on Thursday, with the index tracking mainland stocks having its best day in more than three months, after a security law went into effect in the city this week.

** The Hang Seng index rose 2.9%, to 25,124.19, while the China Enterprises Index, tracking mainland companies listed in Hong Kong, gained 3.1% to 10,056.86, logging its best session since March 25.

** The Hong Kong stock market was closed for the Hong Kong Special Administrative Region Establishment Day on Wednesday.

** Beijing unveiled the security law on Tuesday, and Hong Kong police made their first arrests of protesters under the legislation on Wednesday.

** The U.S. House of Representatives passed legislation on Wednesday that would penalise banks doing business with Chinese officials who implement a national security law that House Speaker Nancy Pelosi called a “brutal, sweeping crackdown” on Hong Kong.

** But Hong Kong shares gained as investors see the law leading to more listings by Chinese companies, more mainland money, and more financial links with the world’s second-biggest economy, traders and analysts said, despite legislation some fear will erode the city’s freedoms.

** Washington’s moves to revoke Hong Kong’s special treatment under U.S. law will have limited impa

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