Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho
Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho
Richard Harris
Opinion

Opinion

The View by Richard Harris

What was behind the Hong Kong stock market rise ahead of Carrie Lam’s withdrawal of the extradition bill?

  • Many hours before Carrie Lam appeared on TV, and well before reports that the bill’s withdrawal was imminent, the Hang Seng Index had begun to rise
  • Did anyone trade on the information before the mainstream press reported it? It would have been magical for the market to go up on no news

Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho
Closing figures for the Hang Seng Index displayed on a screen in Central on September 4, the day Chief Executive Carrie Lam formally announced the withdrawal of the extradition bill. Photo: Tory Ho
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.