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HKEx Announces Q3 Report

by Phillip Morton, Investors Offshore.com

01 December 2008


Hong Kong Exchanges and Clearing (HKEx) has announced that 36 companies were newly listed on the exchange's Main Board in the first nine months of 2008.

HKEx announced in its third quarter results that, as at September 30, 2008, 1,078 and 181 companies were listed on the Main Board and the Growth Enterprise Market (GEM) respectively with a total market capitalisation of about HKD12.55 trillion (USD1.6 trillion).

Total capital raised during this period, including post-listing funds, reached HKD182.2bn.

In addition, there were 3,941 Derivative Warrants , 759 Callable Bull/Bear Contracts, seven Real Estate Investment Trusts, 24 Exchange Traded Funds (ETFs) and 174 debt securities listed as at September 30, 2008.

The average daily turnover in the first nine months of 2008 was about HKD79bn on the Main Board and about HKD262m on the GEM.

The period also saw the listing of the first gold ETF, SPDR Gold Trust, on the exchange on July 31, 2008, providing investors with an additional channel to access the international gold market. Up to September 30, 2008, the average daily turnover of the SPDR Gold Trust was about HKD34m.

The report added that short-selling restrictions are to remain in place for the foreseeable future, however.

"HKEx and the SFC are of the view that the current environment is not conducive to introducing any changes to the short-selling regime, such as the suspension of the tick rule and other short-selling restrictions," the report stated.


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