Govt to consult market on opening stock exchange amid adverse weather: treasurer

The government aims to consult the markets on keeping the stock exchange open despite adverse weather conditions by the end of the year, said Hong Kong’s treasurer Christopher Hui Ching-yu. 

His remark came on an RTHK program on Saturday as sources said a proposal for Hong Kong Exchanges and Clearing Ltd open for trading amid No.8 typhoon signals will be submitted to the government in the next few weeks. 

Hui noted that adverse weather now occurs more frequently due to global warming and said: “We are also very nervous” about Hong Kong still closing the markets in those situations. 

Still, Hui confirmed that the task force on enhancing stock market liquidity, established in late August, will submit a report to the chief executive before he delivers his second policy address on October 25. 

When asked if the government would focus on attracting Middle East funds to invest in the city’s stock market, Hui said inclusiveness is a major advantage of Hong Kong as an international financial hub. 

He also spoke of Hong Kong reaching out and recalled his visit to Qatar, saying that he acknowledged their determination to develop their stock exchange and capital market. 

Hui added that he told monitoring authorities there that he wanted overseas markets to invest more into Hong Kong’s exchange-traded funds. 

He believes there will be opportunities for Hong Kong and Qatar to cooperate in the future. 

Hong Kong stocks closed with gains on Friday as the Hang Seng Index rose by 1.58 percent, or 272.11 points, to 17,485.98.