Hong Kong Stocks Plunge to 15-Month Lows as Beijing Tightens Grip, Sparking Investor Fears
• Hong Kong Stock Exchange benchmark index hitting 15-month lows, wiping out gains since city's 1997 handover to China • Investors losing confidence due to struggles in Chinese economy and end of high growth years • Concerns over Beijing's tightening grip on Hong Kong and new national security laws causing capital flight • Analysts describe Hong Kong as "in ruins" as an international financial center, with falling real estate prices, company headquarters leaving, etc. • Experts say promoting "political stability" in Hong Kong could backfire if the economy remains unstable