Copies of the Apple Daily are selling like hot cakes on Tuesday morning in Hong Kong. The action of this pro-democracy tabloid is up 788% after the arrest of its boss Jimmy Lai on Monday in the name of the controversial national security law. Residents flocked to copies of the newspaper to show their support for one Beijing describes as "an anti-Chinese troublemaker."
An exceptional circulation of 550,000 copies and a title increase of 788%
The share price of the Hong Kong press group Next Digital has increased nine-fold since the arrest on Monday of its boss Jimmy Lai. On Tuesday, the stock rose 214% to 0.80 Hong Kong dollar, meaning the stock is up 788% since Mr. Lai's arrest. The share was then worth 0.09 HKD. An increase in the title allowed by the purchases of individuals, in support of the press boss.
Next Digital is the parent company of Apple Daily, a notoriously critical Beijing tabloid. The inhabitants who seek by all means to support this figure of the pro-democracy camp also rushed Tuesday to the newsstands to get the Apple Daily. The newspaper had anticipated this request by exceptionally printing 550,000 copies, against 70,000 in normal times. "We will fight," proclaims the front page of Tuesday's edition, a pledge written in bright red in a full-page photo of Jimmy Lai being driven by police into the newspaper's newsroom.
"An anti-Chinese troublemaker" according to Beijing
Jimmy Lai, wealthy press mogul, is one of 10 people who were arrested Monday in a wide net against the pro-democracy movement, before about 200 police officers carried out a search in the editorial room of his newspaper. Beijing for its part hailed the arrest of the 71-year-old press man, presented as "an anti-Chinese troublemaker" who conspired with foreigners to "cause chaos".
Seen as Beijing's response to months of pro-democracy protests that rocked Hong Kong in 2019, the National Security Law imposed on June 30 gives local authorities new powers to crack down on four types of crimes against the security of the state: subversion, separatism, terrorism and collusion with outside forces.