1 year ago
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One of the world's biggest banal exchanges has a peculiar argumentation for atrocious upwind – it halts commercialized whenever authorities contented a typhoon informing of Signal 8, the 3rd highest level, oregon higher.
Nicolas Aguzin, the CEO of Hong Kong Exchanges and Clearing, said the bourse is "constantly" looking into reviewing this protocol that halts commercialized successful its $3.9 trillion banal market alongside different structural issues that investors look successful Hong Kong.
When asked erstwhile investors tin expect to spot a alteration successful this policy, Aguzin told CNBC's Emily Tan that evaluations are taking place. Aguzin made his remarks conscionable hours earlier different typhoon informing triggered an aboriginal extremity to Wednesday's trading session.
The Hong Kong Observatory has issued a Signal 8 oregon higher a full of six times successful 2022, doubly successful 2021, and 4 times successful 2020.
"We're ever looking astatine however we tin heighten the microstructure of our markets, to marque definite that investors tin enactment each the time," Aguzin said. "You tin beryllium assured that we're ever looking into this."
What we're focusing connected is the resiliency of Hong Kong – Hong Kong has proven clip and clip again that it tin travel back.
He added that trading policies person shifted successful the past, specified arsenic changes to vacation trading. The bourse launched its derivatives vacation trading service successful May aft information of "market feedback and marketplace readiness."
"We person to equilibrium the involvement of the people, the information of the people, information of the people," Aguzin said, adding that the bourse is "always evaluating" however to marque Hong Kong a apical planetary market.
Shortly pursuing the interview, the Hong Kong Stock Exchange suspended commercialized aft the H.K. Observatory issued a Tropical Cyclone Warning Signal No. 8.
"There volition beryllium nary Closing Auction Session for that trading time if trading has not been resumed by 3:45 p.m. (for afloat time trading) oregon 11:45 americium (for fractional time trading)," the announcement says. HKEX confirmed determination volition not beryllium extended trading Wednesday.
Aguzin said helium believes successful Hong Kong's resiliency against galore challenges, including the latest typhoon hitting the city, planetary inflation, arsenic good arsenic geopolitical concerns.
"What we're focusing connected is the resiliency of Hong Kong – Hong Kong has proven clip and clip again that it tin travel back."Hong Kong has proven clip and clip again that it tin travel back," helium said. "I bash judge successful the semipermanent spot of our marketplace and the peculiar fundamentals that Hong Kong has arsenic an planetary fiscal center."
Revised listing rules
The Hong Kong Stock Exchange successful a caller consultation insubstantial outlined proposals for a new listing regime for peculiar exertion companies which would easiness requirements for listing successful the city.
The revisions see a little threshold of gross for commercialized firms successful definite sectors, including next-generation accusation exertion and precocious materials. Companies would request to scope a valuation of $250 cardinal Hong Kong dollars, little than the existent request of HK$500 million.
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When asked if the bourse is prioritizing quantity implicit prime successful its bid to pull much listings to the city, Aguzin said helium sees imaginable successful investing successful these companies.
"What we're trying to bash is code high-quality companies that person large products," Aguzin said. "Their currency flows are going to beryllium further successful the future, but their opportunities for investors are outstanding."
Aguzin added that the precocious projected measures are expected to beryllium solidified and formally announced "hopefully not excessively acold from now."
