Afternoon Trading: Media Reports and Bill Lam

afternoon trading: It got a major boost during afternoon trading from local media reports, subsequently confirmed, that Hong Kong leader Carrie Lam will formally withdraw the bill, according to CNN. Lam had suspended the bill in June after more than 1 million people took to the streets, but that didn't quell the protests. The Hang Seng Index HSI notched up its biggest daily percentage gain since November 2018 to end at 26,523 points. Nearly every component of the Hang Seng was up. Wharf Real Estate, New World Development and Sun Hung Kai Properties were all up more than 9%. Wednesday's rally leaves the Hang Seng standing 2.6% higher for the year so far. The biggest gainers were all property developers, which have been battered by the protests and the ongoing US-China trade war. (news.financializer.com). As reported in the news.