Hundreds of thousands of people clogged the streets in central Hong Kong on Sunday dressed in black to demand the city's leader step down, a day after she suspended an extradition bill in a dramatic retreat following the most violent protests in decades.
The massive rally saw some protesters carry white carnation flowers, while others held banners saying,"Do not shoot, we are HongKonger," as they sought to avoid a repeat of the violence that rocked the financial centre on Wednesday when police fired rubber bullets and tear gas.
The about-face was one of the most significant political turnarounds by the Hong Kong government since Britain returned the territory to China in 1997, and it threw into question Lam's ability to continue to lead the city. Activist investor David Webb, in a newsletter on Sunday, said if Lam was a stock he would recommend shorting her with a target price of zero."Her minders in Beijing, while expressing public support for now, have clearly lined her up for the chop by distancing themselves from the proposal in recent days."
The violent clashes near the heart of the financial centre on Wednesday grabbed global headlines and forced some shops and banks, including HSBC, to shut branches. Hong Kong has been governed under a"one country, two systems" formula since its return to Beijing, allowing freedoms not enjoyed on mainland China but not a fully democratic vote.
Asked repeatedly on Saturday if she would step down, Lam avoided answering directly and appealed to the public to"give us another chance." Lam said she had been a civil servant for decades and still had work she wanted to do.
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