Impact of China’s Proposed New Security Law Seen on Hong Kong Shares

May 23, 2020 01:18 PM AEST | By Team Kalkine Media

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China has proposed a new security law for Hong Kong which would at its annual meeting of the Parliament. The new law would enable the security forces of Beijing to operate in the city. They would try to suppress the pro-democracy protest which happened the previous year.

The impact was seen on Hong Kong shares. Hong Kong's Hang Seng index dropped by 5.56% and ended the day’s trade at 22,930.14 on Friday 22 May 2020.

The shares of Link REIT Estate Investment Trust dropped by 10.17% and Tencent shares by 4.85% by the market close.

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