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The protesters’ five demands are: the formal withdrawal of the extradition bill, the independent investigation into the police response, amnesty for arrested protesters, direct elections for all lawmakers and the chief executive, and not labeling those at a June 12 protest as “rioters.”

Though Mrs. Lam’s decision may help assuage some protesters, experts said it was unlikely to satisfy a small group of young demonstrators who have become more militant in recent weeks. A test of the public’s reaction to Mrs. Lam’s decision, they said, could come as soon as this weekend, since the biggest, most disruptive protests often happen on weekends.

In recent weeks, as clashes between protesters and the police have intensified, the focus of the demonstrations has shifted to police violence, and Mrs. Lam’s actions on Wednesday could be seen as falling short.

“It may ease anger a little, but it’s definitely not going to get people out of the streets,” said Samson Yuen, an assistant professor of political science at Lingnan University in Hong Kong who studies local social movements.

“It’s too late,” Mr. Yuen said. “The focus of the protests is not on the bill anymore.”