Hong Kong Futures Exchange

PUBLISHED : Friday, 31 October, 1997, 12:00am
UPDATED : Friday, 31 October, 1997, 12:00am

The Hong Kong Futures Exchange is hailing the success of the red-chip futures contract, which was introduced 30 trading days ago.

Over the period, 63,907 contracts were traded between 68 exchange members. The number of open positions peaked at 11,942 on Wednesday.

Average daily volume jumped from 1,407 contracts over the first five days to 3,482 contracts over the final five sessions.

Brokers said the product had been welcomed by retail investors, whose interest in red chips soared in the first half of the year.

They said trading in red-chip futures would remain volatile.