Beijing arrested a pro-democracy media tycoon in Hong Kong — then his stock quadrupled
Hong Kong activists became stock traders on Monday in support of local media tycoon Jimmy Lai, whom authorities arrested for allegedly breaking the city’s strict new national security law. Shares in Next Digital, Lai’s tabloid media group, rose up to 344% in afternoon trade after pro-democracy activists urged investors to buy in, reports the Financial Times. Police detained Lai alongside nine others under a new Beijing directive aimed at curtailing foreign influence and secessionist activities in Hong Kong, now a focal point for China’s rocky international relations. [Read: Kodak stock sinks 45% after alleged insider trading halts its pharma pivot] One activist-trader,…
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