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SEHK Considers to Extend Trading Time
Lawrence Fok, vice president of the Stock Exchange of Hong Kong Limited (SEHK), said Tuesday that SEHK is now drafting a consulting document to study the possibility for extending the time of the spot and futures trading in Hong Kong. Madam Chen Po Sum, chairwoman of the Securities Association of Hong Kong, responded that the Association will accept the ways to advance the time for the opening of the session and add a noon-session for trading.
As reported Lawrence Fok denoted that most stock exchanges across the world have longer trading time than the SEHK except the stock exchanges in Shanghai, Shenzhen and the Philippines. Opinions on the extension of the trading time are hopefully to be sorted for from the market by the middle of 2001 at the earliest possible time.
Madam Chen Po Sum said that to advance the time for the opening of the session and add a noon-session for trading won't affect too much of the trading since it hasn't been decided whether the settlement after the session closed will be conducted by T+2 or T+3. However, it will definitely increase the costs of the brokers in running their business. What she cares most is how to settle accounts for the deals made during the prolonged time, because it will probably exceed the limit of banks' office hours. Considering its stimulating functions on the deals, Chen Po Sum decided to accept the ways to advance the time for opening the session and add a noon-session for trading in the SEHK.
By PD Online staff member Du Minghua
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