The Hong Kong Stock Exchange

8th largest on planet

2nd largest in Asia behind Tokyo

Serious Information

Trivia

With a total market capitalization of more than HK$10 trillion (US$1.3 trillion), the Hong Kong Stock Exchange ranks 8th in the world by market capitalization of listed companies, and 2nd largest in Asia.

In his 1999 Budget Speech, Hong Kong's Financial Secretary announced comprehensive market reform of the stock and futures markets. The reforms were designed to increase competitiveness and meet the challenges of an increasingly globalised market. Under the reform, The Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited demutualised and together with Hong Kong Securities Clearing Company Limited, merged under a single holding company, HKEx. The merger was completed on 6 March 2000 and HKEx listed its shares by introduction on the stock exchange on 27 June 2000.

Securities market - Reports of securities trading in Hong Kong date back to the mid-19th century. However, the first formal market, the Association of Stockbrokers in Hong Kong, was not established until 1891. The Association was renamed the Hong Kong Stock Exchange in 1914.

A second exchange, the Hong Kong Stockbrokers' Association was incorporated in 1921. The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and reestablish the stock market after the Second World War.

Rapid growth of the Hong Kong economy led to the establishment of three other exchanges - the Far East Exchange in 1969; the Kam Ngan Stock Exchange in 1971; and the Kowloon Stock Exchange in 1972. Pressure to strengthen market regulation and to unify the four exchanges led to the incorporation of the Stock Exchange of Hong Kong Limited in 1980. The four exchanges ceased business on 27 March 1986 and the new exchange commenced trading through a computer-assisted system on 2 April 1986. Prior to the completion of the exchange merger in March 2000, the unified stock exchange had 570 participant organisations.

Derivatives market - Established in 1976, Hong Kong Futures Exchange Limited is a derivatives leader in the Asia-Pacific region. It provides efficient and diversified markets for trading futures and options contracts by its more than 130 participant organisations, including many that are affiliated to international financial institutions.

Derivatives market under HKEx operates futures and options markets on a broad range of products, including equity index, stock and interest rate. HKEx and its subsidiaries, HKFE Clearing Corporation Limited and SEHK Options Clearing House Limited, operate rigorous risk management system which enables participants and their clients to meet their investment and hedging needs in a liquid and well-regulated market place.

Stock settlement - Hong Kong Securities Clearing Company Limited was incorporated in 1989. It created CCASS, the central clearing and settlement system, which started operating in 1992 and became the central counterparty for all CCASS participants.

The clearing operation is based on the immobilisation of share certificates in a central depository. Share settlement is on a continuous net settlement basis by electronic book entry to participants' stock accounts in CCASS. Transactions between CCASS participants are settled on T+2, the second trading day following the transaction.

http://www.hkex.com.hk/index.htm Stock Exchange:contains much information on history, data, and opening and closing of the stock exchange so one can watch the clock tick tock. So one can tell everyone else about this too.

Registered Office:

12/F One International Finance Centre, 1 Harbour View Street, Central, Hong Kong
Tel: (852) 2522 1122
Fax: (852) 2295 3106
Email: info@hkex.com.hk

HKEx Representative Office in Beijing

Registered Office: Suite 1002, W2, Oriental Plaza, Beijing
Post Code: 100738
Tel: (8610) 8518 3088
Fax: (8610) 8518 3288
Email: bjo@hkex.com.hk

Trivia

The Hong Kong Special Administrative Region of the People's Republic of China is one of the two special administrative regions (SARs) of the People's Republic of China (PRC), the other being Macau. It was a British colony from 1843, until it was handed back to the PRC in 1997. As a special administrative region, Hong Kong is guaranteed by the Basic Law to have a relatively high degree of autonomy until at least 2047, fifty years after the transfer of sovereignity. Under the "One Country, Two Systems" policy, it retains its own legal system, currency, customs policy, and immigration laws.

Hong Kong had been a trade port ever since British occupation, but its position as entrepot to China declined greatly after the UN ordered an embargo against the People's Republic of China as a result of the Korean War. In response, a textile industry was established, taking advantage of the new pool of workers from China who were willing to work at any wage. During this period, the economy grew rapidly. Towards the 70s, Hong Kong began to move away from the textile industry and develop its financial and banking industry. This led to even greater growth, and Hong Kong quickly became one of the wealthiest territories in the world. Its position as an entrepot was strengthened when the Open Door Policy was adopted by the PRC in the late 1970s in China.

Hong Kong is the gateway to China, a city where east meets west and old and new collide in an eclectic mix of cultures. To make sure that she had a fighting chance of packing the action in, Ginny got some sleep on the plane, resisted the temptation to hit the drinks trolley, and set her watch to local time as soon as she boarded the plane. She stayed in the Langham Place, the first five star hotel to open in the up-and-coming area of Mongkok on the Kowloon side of the city. Treatments offered at the hotel include some to ease jetlag, as well as a gym with amazing city views.

Hong Kong has one of the least restricted economies in the world and is basically duty free. It is the world's 11th largest trading entity and of nations it has the 13th largest banking centre. The dominant presence of international trade is reflected in the consulates in the territory: at June 2005, it had 107 consulates and consulates-general, more than any other city in the world. (Even New York City, host of the UN, has only 93 consulates.)

Hong Kong never had an army of its own because it is not a sovereign state. All defence matters are up to the state which controls Hong Kong. Before handover, defence forces were provided by the British Army, where they stationed in barracks throughout Hong Kong.

One of the city's most famous export is Jackie Chan

The Matrix series in is heavily influenced by the Far East, and especially Hong Kong. The action scenes were choreographed by Hong Kong's finest action director, Yuen Wo-ping. Much of the gunplay is taken from the films of John Woo. There is Buddhism in the script.

Director John Woo, the name behind a number of hit Hong Kong films in the early 1990s, including The Killer and Hard-Boiled, was lured by Hollywood into shooting such films as Mission Impossible 2, Face/Off and Paycheck.

Names similar to the city

Yang Kang Tang Traditional Chinese Medicine Practice allows patients to experience the best that Traditional Chinese Medicine (TCM) has to offer.

KENG is an acronym for Kingston East Neighbourhood Group

Zhang Heng (78-139) was a mathematician, astronomer and geographer in China.

Hon is often an abbreviated term in the UK sued for MPs sort for Honorable

Dr Luke Ong is a Professor of Computer Science Oxford University

KOG is an acronym for Kokomo Opalescent Glass the oldest manufacturer of opalescent and cathedral stained glass in the world, with the ability to manufacture over 22000

In Germany a soccer discussion site is naming itself a sock exchange

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