Yesterday marked the first day of Hongkong Clearing's strict imposition of the T+2 deadline for stock settlement, criticised by some brokers as an attack on international investors. The strict enforcement of the deadline passed without apparent incident. Hongkong Clearing officials pointed out that more than 95 per cent of trades had been successfully settled within the deadline even on the days of strongest turnover. Hong Kong has now joined South Korea and Taiwan in having a settlement deadline on T+2. Elsewhere in Asia, Japan and Thailand require settlement on T+3 and Singapore must be settled before T+5. In Shanghai and Shenzhen, B shares must be settled before T+3. In major overseas markets, Germany matches Hong Kong's deadline, with United States, Australia and Canada all requiring trades to be settled before T+3. In London, settlement is required within T+5. Some brokers said that Hong Kong's settlement deadline was too onerous, particularly because of its heavy reliance on overseas markets operating in different time zones.