Hing Kong leader Carrie Lam is expected to formally withdraw the extradition bill which led to protests spanning several months and which shoved the region in its biggest political crisis, media reports said.
As per a report in the South China Morning Post , Lam was likely to meet pro-establishment lawmakers at 4pm local time, before making a formal announcement about the withdrawal of the bill. Later, Reuters also said that lam was expected to withdraw the bill and cited a government source.\
Hong Kong stocks ended 3.90% higher, on extradition bill hopes, reported news agency AFP.
Anti-government anger sparked by the now-shelved extradition bill, which would have allowed criminal suspects to be sent to jurisdictions including mainland China, has fuelled protests in Hong Kong since June.
Demonstrations have run for 13 consecutive weekends, and 1,117 protesters had been arrested.
Demonstrators have five main demands for Lam, including formally withdrawing the bill, establishing a commission of inquiry to investigate police conduct and and restarting the city's stalled political reform process.
The total number of arrests related to the ongoing civil movement, which has plunged Hong Kong into its worst political crisis in decades, now sits at 1,117.