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City's oldest broker loves to dance to tunes of trade

Reading Time:6 minutes
Why you can trust SCMP
Enoch Yiu

After six decades on the floor, David Tung has no plan to quit

David Tung Wai, Hong Kong's oldest stockbroker, has no plans to hang up his red jacket to spend more time on his pastimes of mahjong or dancing. Instead, the 79-year-old still enjoys the cut and thrust of executing trades for his clients - a job he has been doing since 1945.

Born in Shanghai into a family of five children, Mr Tung followed his uncle's footsteps in the profession by becoming a stockbroker at the age of 14. He worked as a trainee, doing everything from making tea to executing trades.

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In the old days, he would yell out prices on the exchange floor and then run to record them on a blackboard with chalk. Sixty-four years on, he is catching up with the younger generation by using computers to execute trade and file records.

Considered a living icon of the local stock market, he was always the first broker to be introduced to VIPs on the exchange floor - from former British governors to mainland leaders such as former premier Zhu Rongji, President Hu Jintao and Premier Wen Jiabao.

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While many have blamed competition from banks for forcing small brokers from the market, Mr Tung believes the key issue is that many smaller brokers are not full-time professionals.

Why did you become a stockbroker at the end of the second world war?

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