The Business Times
business-time-50

Hong Kong’s Lee plans task force to boost stock market liquidity

google-preferred-sourceAdd BT as a preferred source
Published Sun, Aug 27, 2023 · 04:32 PM
    • The market capitalisation of Hong Kong’s bourse has plunged by almost US$870 billion since a January peak amid weak investor sentiment over China’s sluggish economic recovery.
    • The market capitalisation of Hong Kong’s bourse has plunged by almost US$870 billion since a January peak amid weak investor sentiment over China’s sluggish economic recovery. PHOTO: REUTERS

    HONG Kong will set up a task force to look into ways to boost stock market liquidity, according to Chief Executive John Lee. 

    Financial Secretary Paul Chan will lead the group and will announce more details this week, Lee told reporters on Sunday (Aug 27).

    “I want the task force to start working very quickly,” the chief executive said. The group can provide “recommendations to increase the liquidity of our stock market to strengthen our competitiveness as an international financial centre”, he said. 

    The market capitalisation of Hong Kong’s bourse has plunged by almost US$870 billion since a January peak amid weak investor sentiment over China’s sluggish economic recovery. The city’s benchmark Hang Seng Index has lost about 9 per cent this year after back-to-back annual losses. 

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Hong Kong Stock Exchange

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    In hiring for AI-fluent users, companies will do well to better define and test applicants on their capacity for human oversight.

    Employers want AI-fluent employees. Hiring them is the challenge

    Philippine’s Maharlika support for Petron through a credit facility shows the sovereign fund’s role in the nation’s energy security.

    Early payout from Philippines’ Maharlika Investment Fund raises eyebrows over its true nature

    SpaceX's US$75 billion initial public offering was more than four times oversubscribed. 

    SpaceX, Unitree, Anthropic, OpenAI: Is the ultra-hyped tech-listing wave backed by sound fundamentals?

    In 2027, the combined maximum incentives for EV cars will be lowered to S$20,000 from S$30,000 currently.

    Changes to EV incentives, uncertainty over COE framework drive Category A premium to a new high in ‘re-run of 2025 mania’

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More