Hong Kong Stock Exchange

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Stock Exchange of Hong Kong
香港聯合交易所
HKEX logo 2016.svg
Logo of Hong Kong Exchanges and Clearing, owner of SEHK
Hong Kong Exchange Trade Lobby 2007.jpg
The now-defunct floor trading lobby in 2007
Type Stock exchange
Location Central District, Hong Kong
Founded3 February 1891;131 years ago (1891-02-03) (as Association of Stockbrokers in Hong Kong)
21 February 1914;108 years ago (1914-02-21) (as Hong Kong Stock Exchange)
Owner Hong Kong Exchanges and Clearing
Key people
Currency Hong Kong dollar
No. of listings2,538 (2020)
Market cap HK$47 trillion (2020)
Website hkex.com.hk
Hang Seng Index 2001 - 2022 Hang Seng Index.webp
Hang Seng Index 2001 - 2022
Stock Exchange of Hong Kong
Traditional Chinese 香港聯合交易所
Simplified Chinese 香港联合交易所

The exchange first introduced a computer-assisted trading system on 2 April 1986. [17] In 1993 the exchange launched the "Automatic Order Matching and Execution System" (AMS), which was replaced by the third generation system (AMS/3) in October 2000. [18]

Regulatory role

David Webb, independent non-executive director of the Exchange since 2003, has been arguing for a super regulatory authority to assume that role as regulator, as there is an inherent conflict between its commercial and regulatory roles. In the meantime, he argues for improved investor representation on the Hong Kong Stock Exchange.

In 2007, the uproar by smaller local stockbrokers over the decision by board of directors to cut minimum trading spreads for equities and warrants trading at between 25 HK cents and HK$2 caused the new board to vote to reverse the decision. The reforms were to be implemented in the first quarter, but was put back on the table following protests by brokers. Webb criticised the board for caving in to vested interests. [19]

Trading characteristics

Twenty largest stocks by market capitalisation

Source: HKEX, in billions of Hong Kong dollars, Data updated on 14 February 2018

  1. AIA: $6,764.32
  2. Tencent Holdings: $4,118.93
  3. Industrial and Commercial Bank of China: $2,877.98
  4. China Construction Bank: $2,167.39
  5. Bank of China: $1,803.12
  6. PetroChina: $1,715.53
  7. Agricultural Bank of China: $1,641.43
  8. HSBC Holdings: $1,629.79
  9. Ping An Insurance: $1,547.81
  10. China Mobile: $1,509.04
  11. China Merchants Bank: $991.75
  12. Bank of Communications: $985.55
  13. China Life Insurance Company: $844.57
  14. Postal Savings Bank of China: $676.41
  15. China National Offshore Oil Corporation: $492.91
  16. China Minsheng Bank: $420.11
  17. BOC Hong Kong (Holdings): $412.34
  18. China Pacific Insurance Company: $404.37
  19. CK Hutchison Holdings: $377.47
  20. CITIC Bank International: $367.82

See also

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References

  1. "HKEX Monthly Market Highlights". www.hkex.com.hk. Retrieved 22 January 2021.
  2. "Top 10 Asian Stock Markets In 2017 - WEALTH". WEALTH. 29 December 2017.
  3. "Hong Kong stock exchange operator world's largest after toppling Chicago's CME". South China Morning Post. 6 January 2021. Retrieved 22 January 2021.
  4. "End of an era for HK trading floor". BBC News. Retrieved 25 March 2018.
  5. "Hong Kong Securities Market" Hong Kong Exchanges and Clearing Limited [ non-primary source needed ]
  6. "History of HKEX and its Market". HKEX Group. Retrieved 5 July 2017.
  7. "Archived copy". Archived from the original on 4 March 2016. Retrieved 15 January 2016.{{cite web}}: CS1 maint: archived copy as title (link)
  8. "Traders gather to mark end of floor stock trading in Hong Kong". South China Morning Post. 27 October 2017. Retrieved 2 June 2019.
  9. "Trading Hall Renovation Moves Forward" (PDF). hkex.com.hk. Retrieved 25 March 2018.
  10. 1 2 3 4 Trading Hours, hkex.com.hk, 8 March 2011, retrieved 8 March 2011
  11. 1 2 HKEx Receives Approval to Extend its Trading Hours from 7 March, hkex.com.hk, 24 January 2011
  12. Markets Make Smooth Transition to New Trading Hours (PDF), Hong Kong Exchanges and Clearing, 4 April 2011, retrieved 20 June 2011
  13. Closing Price Calculation (PDF), hkex.com.hk, 23 March 2009, retrieved 5 June 2009
  14. Ng, Katherine (13 March 2009), "HKEx scraps closing auction", Stand. (Hong Kong) , archived from the original on 17 March 2009, retrieved 5 June 2009
  15. Wan, Hanny (12 August 2010), "Hong Kong Brokers Balk at Prospect of Losing Their Long Lunch", Bloomberg News, retrieved 13 August 2010
  16. "Heale, Simon John Newton, (born 27 April 1953), Chief Executive, London Metal Exchange, 2001–06", Who's Who, Oxford University Press, 1 December 2007, doi:10.1093/ww/9780199540884.013.4000170 , retrieved 31 January 2022
  17. History of HKEx and its markets, Hong Kong Stock Exchange, 31 October 2013, retrieved 7 January 2015
  18. "HKEx Builds its Market Infrastructure with Competitive Technology" (PDF), Exchange Newsletter, Hong Kong Stock Exchange, October 2004, retrieved 7 January 2015
  19. Cheung, Jackie (15 February 2007), "Plan for tighter spreads dropped", Stand. (Hong Kong) , archived from the original on 13 October 2007, retrieved 19 March 2007

Coordinates: 22°17′03″N114°09′28″E / 22.28414°N 114.15768°E / 22.28414; 114.15768