A number of media outlets are reporting on UK Prime Minister Boris Johnson who has been reported to be offering hope of refuge to 3 million Hong Kong people, as reported in the Times and South China Morning Post. The Times reports that the route into the UK and possible citizenship if Beijing removes freedom while in the South China Morning Post, it is repeated that UK PM Johnson is prepared to change UK immigration rules if Beijing imposes its national security law on Hong Kong.

Market implications

In earlier news, The United Kingdom warned China on Tuesday not to cross the Rubicon over Hong Kong, saying the People’s Republic should step back and adhere to its international obligations over the former British colony, Reuters reported.

“The ball is in the court of the government in China, it has a choice to make here,” British Foreign Secretary Dominic Raab told parliament.

“It can cross the Rubicon and violate the autonomy and the rights of the people of Hong Kong or it can step back, understand the widespread concern of the international community and live up to its responsibilities as a leading member of the international community.

The implications are clearly negative for financial markets ina worst-case scenario. 

 

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