Hong Kong media group soar again, up 788 percent since owner's arrest

Agence France-Presse

Posted at Aug 11 2020 12:19 PM

Hong Kong media tycoon Jimmy Lai, center, who founded local newspaper Apple Daily, is arrested by police officers at his home in Hong Kong, Monday, Aug. 10, 2020. Lai was arrested Monday on suspicion of collusion with foreign powers, his aide said, in the highest-profile use yet of the new national security law Beijing imposed on the city after protests last year. AP Photo

HONG KONG - Shares in the parent company of a Hong Kong pro-democracy newspaper have skyrocketed nine-fold since its owner was arrested, after enjoying another blockbuster surge Tuesday as activists threw their support behind him.

Next Digital, the media group owned by tycoon Jimmy Lai and which runs the tabloid Apple Daily, rose 214 percent to HK$0.80 in the morning on Tuesday -- meaning it has risen 788 percent since trading began on Monday at HK$0.09. Lai was arrested on Monday and led in handcuffs through his newspaper office, as part of a sweeping crackdown on dissent since China imposed a security law on the city.