Source: Zhitong Finance
On May 20, some sources indicated that$HKEX (00388.HK)$The “keep up the market” mechanism may be delayed from the original plan, that is, implementation in July of this year. In response, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Ching-yu, said that the schedule has always been clear and unchanged. Implementation details will be announced in mid-year, relevant arrangements will be implemented when the market is ready, and there is no problem of delaying implementation. Xu Zhengyu said that the details of the policy cover many aspects, including front-office transactions, back-office settlement, brokerage arrangements, etc., and a series of arrangements will take time to implement.
According to previous information, the comments received by the Hong Kong Stock Exchange during the consultation on bad weather trading arrangements were generally very supportive. As for the opposition, it mainly came from small and medium-sized brokerage firms. According to the news, since the market still has a lot of concerns and concerns, in order to give the industry enough time to prepare, the authorities do not want to implement it during the windy season to avoid chaos; they prefer to only officially implement it at the end of the year or the beginning of next year.
According to reports, the Hong Kong Stock Exchange publicly consulted on bad weather trading arrangements in November 2023, and proposed canceling the current bad weather arrangement so that the Hong Kong stock market and derivatives market can continue to provide trading, settlement and settlement services under bad weather. Regardless of the trading period, post-trading period, listing arrangements, and even the Shanghai, Shenzhen, and Hong Kong Stock Connect, it is basically the same as the normal trading day. The consultation period ends on January 26, 2024. The consultation document mentioned that it will take 6 months to prepare for the market to stop, that is, it will take effect as soon as July 2024.
editor/tolk