The Stock Exchange of Hong Kong Limited, a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), Asia's biggest bourse operator, said it will implement changes to the short selling criteria for designated securities available for short selling to reflect development in the securities market following a review conducted earlier this year.
As a result of the review, the eligibility criterion related to the market capitalization and turnover velocity will be increased from $1 billion to $3 billion and from 40 per cent to 50 per cent respectively.
Therefore, Stocks eligible for short-selling must have a market capitalization of HK$3 billion from July 3, up from HK$1 billion now, the Hong Kong Exchanges and Clearing Limited (HKEx) said on Thursday.
The change reflects the fact that the average market capitalization of listed companies in Hong Kong has grown by around three times and the market turnover velocity has increased from around 40 per cent to over 50 per cent in the past decade.
Had the new short selling eligibility criteria been adopted in the last quarterly review in April this year, 82 out of the existing 646 designated securities would have become ineligible for short selling.
The new Regulation for short selling eligibility criteria has been approved by the Securities and Futures Commission and will take effect on 3 July 2012 (Tuesday).
Investors and Exchange Participants may refer to Regulation 18 of the Eleventh Schedule of the Rules of the Exchange available on the HKEx website www.hkex.com.hk for more details.
Sunday, May 13, 2012
Friday, April 27, 2012
Singapore Exchange and Bursa Malaysia to link stock exchanges in end July 2012
Singapore Exchange (SGX) and Bursa Malaysia (Bursa) are expected to link their stock exchanges around end of July or early August this year as the finishing touches are yet to be put in place to connect the region's bourses under the Asean Trading Link (ATL). Originally, it was planned to be ready by end-June, but full system testing are expected to be completed by end July.
The ATL plans to connect seven bourses across six countries in the region, involving some 3,600 public-listed firms with a combined market capitalisation of US$2 trillion.
The ATL would eventually include the bourses of Vietnam, Indonesia and the Philippines in an effort to raise the profile of Asean as a highly-investable asset class.
Bursa Malaysia, Singapore Exchange (SGX) and Stock Exchange of Thailand (SET) would be the first to establish the link as the combined market capitalization of their listed companies accounts for 70 per cent of Asean's total valuation.
Asean comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Philippines, Malaysia, Myanmar, Singapore, Thailand and Vietnam.
ASEAN Exchanges consist of seven members, the countries are SGX (Singapore), Bursa (Malaysia), SET (Thailand), the Jakarta Stock Exchange (Indonesia), the Philippine Stock Exchange (Philippines), the Hochiminh Stock Exchange and the Hanoi Stock Exchange (Vietnam).
The idea to allow seamless trading among Southeast Asia's bourses came up about four years ago as ASEAN sought to attract portfolio investors drawn to the larger Asian markets of China and India.
Speaking on behalf of ASEAN Exchanges, SGX Chief Executive Officer (CEO) Magnus Bocker said the start of the Singapore-Malaysia electronic trading link will mark the first key milestone towards breaking down the barriers to cross-border trade in Southeast Asia.
'Through the trading link, investors in Asean will enjoy a new ease of access to a wider investment selection as well as tap the region's growth opportunities,' he added in the statement, at the conclusion of the 16th Asean Exchanges CEOs meeting here.
The ATL plans to connect seven bourses across six countries in the region, involving some 3,600 public-listed firms with a combined market capitalisation of US$2 trillion.
The ATL would eventually include the bourses of Vietnam, Indonesia and the Philippines in an effort to raise the profile of Asean as a highly-investable asset class.
Bursa Malaysia, Singapore Exchange (SGX) and Stock Exchange of Thailand (SET) would be the first to establish the link as the combined market capitalization of their listed companies accounts for 70 per cent of Asean's total valuation.
Asean comprises of 10 countries - Brunei, Cambodia, Indonesia, Laos, Philippines, Malaysia, Myanmar, Singapore, Thailand and Vietnam.
ASEAN Exchanges consist of seven members, the countries are SGX (Singapore), Bursa (Malaysia), SET (Thailand), the Jakarta Stock Exchange (Indonesia), the Philippine Stock Exchange (Philippines), the Hochiminh Stock Exchange and the Hanoi Stock Exchange (Vietnam).
The idea to allow seamless trading among Southeast Asia's bourses came up about four years ago as ASEAN sought to attract portfolio investors drawn to the larger Asian markets of China and India.
Speaking on behalf of ASEAN Exchanges, SGX Chief Executive Officer (CEO) Magnus Bocker said the start of the Singapore-Malaysia electronic trading link will mark the first key milestone towards breaking down the barriers to cross-border trade in Southeast Asia.
'Through the trading link, investors in Asean will enjoy a new ease of access to a wider investment selection as well as tap the region's growth opportunities,' he added in the statement, at the conclusion of the 16th Asean Exchanges CEOs meeting here.
Thursday, April 26, 2012
Labour Day Holiday
Wednesday, April 4, 2012
Good Friday Holiday in Asian Market
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