By the end of the year, the government hopes to engage the markets about keeping the stock exchange open despite bad weather, according to Hong Kong’s treasurer Christopher Hui Ching-yu.
Sources claimed a proposal for Hong Kong Exchanges and Clearing Ltd to open for trading amid No. 8 typhoon signals will be filed to the government in the coming weeks when he commented on an RTHK programme on Saturday.
Due to climate change, Hui pointed out that bad weather has become increasingly frequent. She said, “We are also very nervous” about Hong Kong’s continued market closures in such conditions.
However, Hui clarified that the task force on improving stock market liquidity, which was formed in late August, will present the chief executive with a report before his second policy presentation on October 25.
Hui responded that inclusivity is a key benefit of Hong Kong as an international financial hub when asked if the government will encourage Middle Eastern investors to engage in the city’s stock market.
Additionally, he mentioned how Hong Kong had reached out and recalled his visit to Qatar, expressing his admiration for that country’s commitment to growing its stock exchange and capital market.
Hui continued by saying that he had informed the local watchdogs that he wanted foreign markets to invest more money in Hong Kong’s exchange-traded funds.
He thinks future prospects for collaboration between Qatar and Hong Kong will present themselves.
Friday saw increases for Hong Kong’s stock market as the Hang Seng Index increased by 1.58 percent, or 272.11 points, to 17,485.98.
- Published By Team Hongkong Journalist