Analysts at TD Securities note that China has threatened to retaliate if the US Congress passes a bill that would support pro-democracy protesters in Hong Kong.
“This came after the House passed a bill that would mandate an annual review to determine Hong Kong's autonomy from the mainland Chinese government to justify its special trading status under U.S. law.”
“The bill also provides for sanctions against officials "responsible for undermining fundamental freedoms and autonomy in Hong Kong." This announcement sent US futures lower and capped gains in equities.”
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