Tokyo Opens Under Pressure as Nikkei and Kospi Extend Sharp Selloff, While Hong Kong Rallies and Gold Surges
Executive summary: Tokyo and broader Asia-Pacific trading opened with a stark split, as Japan and South Korea were hit by heavy selling while Hong Kong advanced strongly. The Nikkei 225 fell -9.6% and the Kospi dropped -13.9%, while the Hang Seng rose +8.0%. Safe-haven demand was visible in gold, which climbed above $4,098, alongside gains in silver, platinum and palladium, even as WTI crude eased and the yen weakened slightly against the dollar. [Continue Reading]
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Tokyo Close: Nikkei Slides as Asia Splinters, Hong Kong Surges, Gold and Oil Swing Hard
Executive summary: Asia-Pacific trading ended with a sharp split, as Japan and South Korea sold off while Hong Kong and Australia advanced. The Nikkei 225 fell -5.5% and the Kospi dropped -9.3%, while the Hang Seng jumped +7.8% and the ASX 200 rose +1.9%. Commodities were equally active, with gold up +3.9% and WTI crude down -8.9%, a combination that points to a major rotation in risk appetite and sector leadership. [Continue Reading]
Joshua Wong sentenced to 10 more years in Hong Kong national security case
Hong Kong pro-democracy activist Joshua Wong has been sentenced to 10 more years in prison after pleading guilty to colluding with foreign powers under the city's national security law. The sentence was handed down on Thursday by a Hong Kong court, according to a court summary, and extends a prison term he was already serving. Wong, one of the best-known figures from Hong Kong's democracy movement, appeared in court wearing a dark blue shirt and black-rimmed glasses, and supporters gathered outside the building as the hearing took place.The court said Wong, 30, had pleaded guilty in September to seeking foreign... [Continue Reading]
Freed Hong Kong activists face punishment with no end date after protest convictions
A former Hong Kong protester says the consequences of a conviction linked to the 2019 pro-democracy demonstrations have continued long after release from prison. The person, identified only as Kris, said they were jailed for nearly three years after taking part in a mass protest over an extradition bill that later became a wider pro-democracy movement. Kris said the experience has left them struggling to rebuild a normal life.Kris was among people charged over participation in what authorities described as a riot during the protests. The original bill would have allowed Hong Kong to hand over criminal suspects to places... [Continue Reading]
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