Posted 11/30/2023, 1:15:12 PM
HKEX Proposes Ending Weather Shutdowns to Enhance Competitiveness
- HKEX issues consultation paper on ending stock market shutdowns during typhoons and rainstorms starting July 2023
- Aims to keep markets open to enhance Hong Kong's competitiveness as a financial center
- Hong Kong only major market that still shuts down for severe weather
- Could incrementally increase HKEX revenue and stock trading tax revenue
- Issues remain around bank branches closing and clearing cheque settlements