In two-fingered salute SA-style, traders drive up Hong Kong media stock 1,100%

Hongkongers have followed the cue of a South African trader who used share deals as protest art against the Guptas, driving stock up by about 1,100%.

Published on:

11 Aug 2020, 12:48 pm

In November 2017, stock market trader James Gubb undertook a unique form of protest art using a series of Oakbay trades on the JSE. The trades produced the shape of a middle-fingered insult to the Gupta family – behind Oakbay and at the centre of industrial-scale looting of state funds. The Gubb story went viral, getting picked up everywhere from Bloomberg to Business Day. The authorities failed to see the creative side of Gubb's protest art and slapped him with a R100,000 fine in connection with playing games with a share price. Hong Kong pro-democracy protestors have followed Gubb's cue, using stock market trades as a form of protest. Supporters of Jimmy Lai, an outspoken critic of the government, drove his company's share price up by about 1,100%. Bloomberg picks up the story. – Jackie Cameron

An 1,100% stock gain is Hong Kong's new protest rallying cry

By John Cheng

(Bloomberg) — They've occupied Hong Kong's central business district, marched by the hundreds of thousands through the city's streets and endured tear gas and pepper spray in pitched battles with riot police.

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