Hong Kong Stock Exchange

Last updated

Stock Exchange of Hong Kong
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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  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.
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  11. 1 2 HKEx Receives Approval to Extend its Trading Hours from 7 March, hkex.com.hk, 24 January 2011
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  13. Closing Price Calculation (PDF), hkex.com.hk, 23 March 2009, retrieved 5 June 2009
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Coordinates: 22°17′03″N114°09′28″E / 22.28414°N 114.15768°E / 22.28414; 114.15768