Index providers MSCI, FTSE Russell and S&P Dow Jones Indices said last week they would cut the three Chinese telecoms companies from benchmarks, wiping a combined US$5.6 billion (S$7.5 billion) off the value of their Hong Kong-traded shares last Friday.
The deletions of China Mobile Telecom and China Unicom Hong Kong add to a raft of Chinese firms already dropped from indexes because of the ban and will force index tracking funds to sell their stock.
He told Reuters the latest arrests were part of a wave of ongoing actions to silence activists and to "make sure Hong Kong doesn't slide back to what we saw 18 months ago", when massive demonstrations marked the boldest public revolt against China's leaders since the Tiananmen Square protests in Beijing in 1989.
The Chinese government might also enact "necessary countermeasures" in response.
Ms Lam's spokesman said authorities were exploring using electronic polling and setting up polling and counting stations in mainland China to allow registered electors there to vote.
The statement blatantly slandered the law on safeguarding national security in the Hong Kong Special Administrative Region (HKSAR), and interfered in the Hong Kong police's law enforcement targeting suspected violations of the law by Benny Tai and others, said the spokesperson for the Hong Kong and Macao Affairs Office of the State Council.
Any changes to electoral laws to further isolate the opposition would now be procedurally guaranteed with the legislature now controlled by pro-Beijing politicians following a mass resignation of democrats from the legislature last November.
While describing the attempts in Hong Kong to subvert state power as the pursuit of democracy, those politicians in the United States, Britain, Australia and Canada called the storming of the U.S. Capitol a violent act trampling on democracy and undermining rule of law.
Hundreds have fled into exile. The crackdowns that happened before and after the implementation of the national security law are not only different in size, but also in terms of the range of people that are targeted by the Hong Kong government, Wasserstrom said. Article 6 of the rules list several factors that the body of the working mechanism will take into account, including legal factors such as "if any basic worldwide law or principle has been violated"; or political factors such as "the potential impact of Chinese rights, as well as security or development interests".
Beijing denies curbing rights and freedoms in the global financial hub and has opposed criticism of the arrests as "grave interference in China's sovereignty and domestic affairs".
There are more than 12,000 structured products listed in Hong Kong issued by 15 companies. We need to keep fighting for democracy in China.
Any convictions could disqualify them from running for office.