Hong Kong's stock market surges as Lam to formally withdraw Extradition Bill
HONG KONG: Hong Kong's main stock benchmark surged more than 4% on Wednesday afternoon after media reported the government was set to formally withdraw the proposed extradition bill that sparked three months of protests in the former British colony.
A government source confirmed to Reuters the media reports saying Hong Kong Chief Executive Carrie Lam will officially withdraw the bill later on Wednesday.
The move would meet one of the protesters' key demands.
The Hang Seng rose 4%, outpacing the 1.6% gains in Asia ex-Japan and 0.9% rise in Shanghai shares.
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