Hong Kong media giant soars 344% as Lai arrest spurs activists

Police officers checking on the employees are going to work at the headquarters of Apple Daily and Next Media after media mogul Jimmy Lai Chee-ying, founder of Apple Daily was detained by the national security unit in Hong Kong on Monday (Aug 10). - Reuters

HONG KONG, Aug 10, 2020 (AFP): Shares in a Hong Kong media group critical of Beijing soared more than 300 per cent on Monday as democracy activists hit social media urging investors to support the media company after its owner was arrested under the city's new security law.

Jimmy Lai, one of the city's most vocal Beijing critics, and leading executives were arrested in the morning for alleged fraud and colluding with foreign forces -- a newly created national security crime.