China has clearly gotten the message that you make concessions to the business community, making concessions to the business community is a very profitable thing for China to do. Then you're free to do whatever you want with human rights and you'll take some little verbal abuse, but nothing much is going to happen to you. The stock market is booming I think because business feels very comfortable with an authoritarian government. What was happening in Hong Kong before was that Hong Kong had legislative elections in 1995 and 20 of the 60 legislative seats were up for general vote by universal sufferage. This was the first time something like this has happened in Hong Kong.
Business keeps all the profits it makes.
I think the stock market investors were more frightened by the idea of the Democrats coming to power in Hong Kong and maybe clamping down on business and maybe taxing business to support some poor people in Hong Kong, than they were with the authoritarian rule in China.