HK to Introduce New Index Futures on May 7Hong Kong Exchange and Clearing Limited (HKEx) announced Thursday that it will introduce MSCI China Free Index Futures for trading on Hong Kong Futures Exchange, a wholly-owned subsidiary of HKEx on May 7.The index represents the universe of Chinese stocks open to investors outside China's mainland and can include H-shares and red-chip stocks listed in Hong Kong, B-shares listed in Shanghai and Shenzhen and N-shares listed in New York. The contract multiplier for MSCI (Morgan Stanley Capital International) China Free Index Futures will be 100 HK dollars per index point. As a result, when the index level is 2,000, the value of one futures contract will be 200,000 HK dollars. "MSCI China Free Index Futures will provide hedging and trading tools for the 'China concept' sector of the international equity markets," said Frederick Grede, HKEx chief operating officer. "MSCI China Free Index Futures will also complement our H-share and red-chip markets and strengthen Hong Kong's position as the most effective channel for Chinese enterprises to raise equity capital internationally," he said. |
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