The Hong Kong Exchanges and Clearing (HKEx) yesterday defended its role in regulating the disclosure of price-sensitive information after an outcry about its handling of Shenzhen Expressway's asset disposal announcement.
On Wednesday, Shenzhen Expressway, listed in both Hong Kong and Shanghai stock exchanges, told the Shanghai stock exchange it was selling two toll highways to the Shenzhen municipal government.
But while the stock was suspended from trading on the local market on Wednesday, the sale was announced in Hong Kong yesterday.
Without referring to specific cases, HKEx official Henry Law Man-wai said the timing of disclosures varied according to time zones and locations of stock markets.
'Hong Kong investors may know about information from the mainland stock exchanges, but they do not have any chance to deal in the stock concerned because its trading is suspended,' Mr Law said.
No unfair market was created as a result.
