Money marketHSBC and Standard Chartered back Hong Kong security law
UK-based banks follow moves by major businesses in the city
HSBC says it "respects and supports" any laws that stabilize Hong Kong. © Getty Images
NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent
HONG KONG -- The two British lenders that dominate Hong Kong banking have come out in support of Beijing's national security law for the city despite opposition from the U.K. government, highlighting the pressure on businesses to choose sides over the contentious legislation.