Financial Institutions In Hong Kong.ppt

Financial Institutions In Hong Kong The Prospectus Of The Hong Kong Stock Market Development of Hong Kong  Stock Exchanges The association of stockbrokers in 1891 which was the First formally recognized stock market in Hong Kong The organization became the Hong Kong Stock Exchange in 1914 The Second exchange, the Hong Kong Stockbrokers’ Association was incorporated in 1921 and merged with the Hong Kong Stock Exchange after World War II in 1947 The merged organization was called the Hong Kong Stock Exchange After World War, formation of Three other exchange: Far East Exchange (established in 1969) Kam Ngan Exchange (established in 1971) Kowloon Exchange (established in 1972) In 1980, the Four exchanges were merged into a Single entity known as the Stock Exchange of Hong Kong Ltd The Four single exchanges ceased trading individually on 27 March 1986 and the new exchange commenced trading via a computer-facilitated system on 2 April 1986 In 1999, the Hong Kong Financial Secretary announced significant market reforms for the securities and futures markets To facilitate the process of reform, the Stock Exchange of Hong Kong Ltd and Hong Kong Futures Exchange Ltd demutualized and, in conjunction with the Hong Kong Securities Clearing Company merged on 6 March 2000 to form a New holding company, Hong Kong Exchanges and Clearing Ltd HKEx is now a listed campany on the SEHK Stock classification Blue chips Red chips H shares Others Red chips, H shares? China-aff Stocks At 2005? 206 Main Board In 2004, the market capitalization was HK $6,629,176.75 million. Number of Shares:892 GEM Board In 2004, the market capitalization was HK $66,716.07 million. Number of Shares:204 Market capitalization HSBC HOLDINGS (Main Board) HK $1,485,758.51 million Tom online (GEM Board) HK $ 8,200.9 million Market capitalization HSBC HOLDINGS =181 Tom online HSBC HOLDINGS =22 Gem Board Gem Board is relatively small The mark