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Closing auction will curb abuse, says HKEx chief

Saturday, June 20, 2015 - 05:50
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A TIGHT REIN: 'The whole idea of this is not only to help major institutional investors to do what they do, but at the same time make them less vulnerable to abuse,' Mr Li said.

Hong Kong

HONG Kong Exchanges & Clearing Ltd (HKEx) chief executive officer Charles Li said the proposed reintroduction of daily closing auctions for equities will mitigate market manipulation and make trading smoother for institutions.

The planned system, which seeks a single