Two international UK banks with far-reaching Asian interests last night publicly backed China's proposed national security law for Hong Kong. This morning shares in both banks rose (HSBC by 2.8% and Standard Chartered by 2.6%) on Hong Kong's Hang Seng Index. Both HSBC and Standard Chartered have a particularly strong presence in Hong Kong. HSBC, which was founded in the territory in 1865 and makes the vast majority of its profits there, has hitherto strived to remain neutral in the conf...
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