Hong Kong Exchanges
Move sparks concern over bourse independence
The government has used its shareholding in Hong Kong Exchanges and Clearing to push its allies on to the company's board, raising fears it has too much influence on the stock market operator.Friday, 25 April, 2008, 12:00am
The government has taken a hit in the market slump, with its Hong Kong equity portfolio estimated to have lost about HK$40 billion in the past three weeks. It is also close to making a paper loss from its investment in a 5.88 per cent stake in Hong Kong Exchanges and Clearing.23 Jan 2008 - 12:00am
Speculation that the government was continuing to raise its stake in Hong Kong Exchanges and Clearing sent shares of the market operator surging 12.01 per cent to become the city's first blue chip to end above HK$200.
The stock rose HK$23.50 to end at HK$219.20, off a high of HK$220.60. Turnover was HK$3.84 billion.22 Sep 2007 - 12:00am
The foundation of Hong Kong's success as a financial centre is confidence in its free and open markets, without fear of direct government intervention. That confidence is being called into question after the government disclosed that it has, secretly and over a period of time, purchased a 5.88 per cent holding in Hong Kong Exchanges and Clearing through the Hong Kong Monetary Authority.11 Sep 2007 - 12:00am
The board of Hong Kong Exchanges and Clearing meets tomorrow to vote on whether to go ahead with the abolition of the minimum brokerage commission. Having delayed the move for a year from last April 1, the government (which appoints a majority of the HKEx board) appears likely to stick to its guns this time and force through the measure, amid howls of protest from the broking industry.14 Jan 2003 - 12:00am