• Sat
  • Dec 27, 2014
  • Updated: 12:37pm

Penny Stock

Silence on penny stocks

The Legislative Council had not received any public submissions on the penny-stock report by last night, a sign of rapidly diminishing interest in the once-hot topic.

Wednesday, 30 October, 2002, 12:00am

Time to move on

SCMP, September 11, 2002:

13 Sep 2002 - 12:00am

Taking stock

Although an inquiry into the so-called 'penny stocks' controversy held no officials or market regulators accountable, the real issue is what kind of financial structure the SAR's markets should have. We would like to hear your recommendations on how Hong Kong could develop a more vibrant, transparent and efficient stock market.

12 Sep 2002 - 12:00am

How events unfolded

December 28, 2000: The idea of addressing problems associated with penny stocks is first suggested to the Financial Services Bureau by the Securities and Futures Commission.

July 25, 2002: Hong Kong Exchanges and Clearing announces proposal to delist stocks priced below 50 cents for 30 consecutive days.

11 Sep 2002 - 12:00am

Lack of understanding blamed for penny-stock panic

Investors panicked before fully understanding the consultation paper on the scrapping of penny stocks, according to some members of political parties.

The Liberal Party's So Kam-leung said the problem was understanding of the paper.

4 Aug 2002 - 12:00am

Tung defends penny-stock investigation

Chief Executive Tung Chee-hwa pledged yesterday there would be no cover-up in the government's investigation into the penny-stock fiasco.

'If the investigation findings show someone has committed dereliction of duty or made a mistake and should hold responsibility, we will certainly take follow-up action,' he said, without specifying what that action might be.

2 Aug 2002 - 12:00am

No whitewash

Financial Secretary Antony Leung Kam-chung has appointed an independent panel to look into last Friday's stock market crash of penny stocks.

1 Aug 2002 - 12:00am

Monitor

I HAVE NOT had a good gnaw at the hand that feeds me for a long time but a description of penny stocks as a 'disgrace to the market' in one of our leaders yesterday (South China Morning Post, July 29) gives me my opportunity for a bite.

30 Jul 2002 - 12:00am

Exchange throws a lifeline to small fry

The delay and likely watering-down of plans to de-list penny stocks could provide a stay of execution for many small brokerages that live off retail punters trading the minnows.

News of Hong Kong Exchanges and Clearing's (HKEx) about-face on its de-listing plans emerged last night.

29 Jul 2002 - 12:00am

Welcome reversal

After Friday's panic selling of the so-called penny stocks following Thursday's publication of a proposal to possibly delist them, it is easy to blame Hong Kong Exchanges and Clearing for failing to anticipate market reaction.

29 Jul 2002 - 12:00am

Monitor

THERE ARE TWO questions, one a why question and one a what question, that have puzzled me for some time about this proposal by the stock exchange to de-list penny stocks. The answers are now becoming plain.

29 Jul 2002 - 12:00am