Hong Kong Exchanges and Clearing (HKEx) will introduce Dow Jones Industrial Average futures on May 6, marking the first time the derivative products will be traded outside the United States. This move to internationalise HKEx offerings follows the introduction of Nasdaq stocks and international stock futures and options. Brokers said these futures products may not be popular as they will trade in the Hong Kong time zone, when the US market is closed. The Dow is the benchmark for US stock-market performance, tracking 30 blue chips traded on the New York Stock Exchange and Nasdaq Stock Market. Late last month the 30 index stocks had a market capitalisation of about US$3.45 trillion and represented more than 20 per cent of the investable US stock market's value. Contracts would be traded and settled at HK$10 per index point. Thus, if the index is at 10,000, the value of one futures contract is HK$100,000. The trading hours for Dow futures will be 9am to 12.30pm and 2.30pm to 4.15pm Hong Kong time, 45 minutes earlier than the normal futures trading hours. HKEx chief executive Kwong Ki-chi said: 'Dow Jones Industrial Average futures expand our range of international benchmark products and they strengthen Hong Kong's position as an international financial centre. 'The introduction of Dow Jones Industrial Average futures in Hong Kong will enable investors to respond quickly to corporate announcements or other market events before or after regular US trading hours.' Past records have shown it will not be easy to add international appetite to the Hong Kong market. The seven Nasdaq stocks listed in Hong Kong two years ago and the international stock futures and options launched last year have seen little trading. Christfund Securities managing director Christopher Cheung Wah-fung said: 'It would be very difficult and risky for the investors to trade a derivative product when the cash market has closed.'