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8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.
Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKEX says high interest rates, geopolitics are impacting market valuationsIn his final interview as HKEX CEO, Nicolas Aguzin says the lack of confidence around the Chinese market is impacting valuations and lowering the number of new companies listing on the Hong Kong market.
Persons: HKEX, Nicolas Aguzin Locations: Hong Kong
HKEX CEO is optimistic on IPOs in Hong Kong
  + stars: | 2023-11-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKEX CEO is optimistic on IPOs in Hong KongHKEX CEO Nicolas Aguzin explains why he's optimistic about their medium-term outlook.
Persons: Nicolas Aguzin Locations: Hong Kong
Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. Rebuilding the London nickel contract is clearly very much work in progress. FIXING NICKELOthers, meanwhile, are looking to muscle into the LME's nickel price discovery domain. The Shanghai market also took a big collateral hit from the London turmoil, volumes on its nickel contract collapsing by 53% last year relative to 2021. The blow-out of the nickel contract and the resulting near-death experience of both brokers and exchange have sapped confidence in the historical market of last resort.
Persons: Simon Dawson, Elliott, Nicolas Aguzin, Matthew Chamberlain, hasn't, it's, Ireland's, Kirsten Donovan Organizations: London Metal Exchange, REUTERS, U.S, Elliott Associates, Jane, Trading, Hong Kong Exchanges, HK, Bloomberg, London, Global Commodities Holdings, Abaxx Commodities Exchange, Canadian, Technologies Inc, Shanghai Futures Exchange, EV, CME, Reuters, Thomson Locations: London, Britain, London's, China, Shanghai, U.S
Hong Kong Exchanges and Clearing reported a 31% jump in net profit for the first six months of the year, compared to a year ago — and its CEO has expressed optimism about the medium-term outlook. HKEX's half-year net profit jumped to 6.31 billion Hong Kong dollars ($806.6 million) from HK$4.84 billion a year ago, boosted by the "robust growth" in its derivatives market, the exchange said in its press release. Revenue from its core businesses rose to HK$9.73 billion in the January to June period, up 5% year-on-year. Aguzin acknowledged that investors are in an "environment of caution" right now, with geopolitics being one of the factors. Still, he expressed optimism for the exchange's near term outlook, on hopes of lower inflation numbers and additional stimulus from China.
Persons: Nicolas Aguzin, Emily Tan, Aguzin, we've Organizations: Hong Kong Exchanges, Hong Kong, HK, Revenue Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKEX CEO is optimistic on medium-term outlook after first-half profit jumps 31%Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing, discusses the exchange's earnings result for the first half of 2023 and expressed optimism in the medium-term following signs that inflation may be coming down.
Persons: Nicolas Aguzin Organizations: Hong Kong Exchanges
HONG KONG, CHINA - JUNE 05: A pedestrian walks by an electronic screen displaying the numbers for the Hang Seng Index on June 5, 2023 in Hong Kong, China. The dual counter model covers securities listed in both Hong Kong dollar and renminbi counters only. The Hong Kong Exchange said all shares of the same securities in the two different trading counters will be "fully interchangeable between counters." The HKEX CEO noted that the initial batch of 24 companies make up about 40% of the average daily trading volume in the Hong Kong. Not the first tryThis is not the first time that such a scheme is being introduced in Hong Kong.
Persons: Chen Yongnuo, Nicolas Aguzin, Aguzin Organizations: China News Service, Getty Images, Getty, Hong Kong, Companies, Baidu, Hong Kong Exchange, Hong Kong Exchanges, Investments, Connect, Stock, Stock Connect, Reuters, Bloomberg Locations: HONG KONG, CHINA, Hong Kong, China, renminbi
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHKEX CEO discusses the 3 aims of its new HKD-RMB dual counter modelNicolas Aguzin, CEO of Hong Kong Exchange and Clearing, says the model aims to give more options to investors, among other things.
Persons: Nicolas Aguzin Organizations: Hong, Hong Kong Exchange Locations: Hong Kong
Signage of the Hong Kong stock exchange in Hong Kong. HKEX has added a new scheme that will connect capital markets in Hong Kong and mainland. Hong Kong Exchanges & Clearing (HKEX) added a new Connect scheme linking markets in the financial hub with the mainland on Monday, by expanding into onshore interest rate derivatives to help offshore investors in Chinese bonds hedge their exposure. The interest rate Swap Connect scheme would further promote the yuan currency's global status, HKEX CEO Nicolas Aguzin said. Aside from helping offshore investors to manage interest rate risk and lower financing costs, the new scheme would improve efficiency of clearing and capital usage, said Haifeng Xu, deputy chief executive at Bank of China (Hong Kong).
Hong Kong bourse’s profit pop looks passive
  + stars: | 2023-04-27 | by ( Thomas Shum | ) www.reuters.com   time to read: +3 min
HONG KONG, April 27 (Reuters Breakingviews) - What does a stock exchange operator do when equity markets are weak and interest rates are high? Hong Kong Exchanges and Clearing (0388.HK) posted a 28% year-on-year profit pop on Wednesday, largely propelled by stellar investment returns as opposed to its core business. Sustained weakness in equities trading and initial public offerings could augur tougher times ahead if transaction volumes don’t come back soon. Though Hong Kong’s IPO pipeline is better than many, with over 90 applications as of the end of March, the issue sizes are restrained. Net profit amounted to HK$3.4 billion ($434 million), up 28% from a year ago, with revenue and other income rising 19% year-on-year to HK$5.56 billion.
March 24 (Reuters) - The Hong Kong Stock Exchange (HKEX) said on Friday it had framed new listing rules for specialist technology companies, adopting a lower revenue threshold for these firms set out in earlier proposals. The bourse operator, a unit of Hong Kong Exchanges and Clearing Ltd (0388.HK), said it would welcome applications operating in frontier industries, including new energy, robotics, semiconductors, quantum computing, autonomous driving, artificial intelligence and new food and agriculture technologies. A commercialised company should have no less than HK$6 billion ($764.38 million) in market capitalisation, according to the rules, lower than HK$8 billion stipulated in a consultation last October. These rules are designed to retain the attractiveness of Hong Kong's capital markets amid continued geopolitical tensions. ($1 = 7.8495 Hong Kong dollars)Reporting by Poonam Behura in Bangalore and Selena Li in Hong Kong; Editing by Sherry Jacob-Phillips and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are the window that connects China and the world, says HKEX CEONicolas Aguzin, CEO of Hong Kong Exchange and Clearing, says it is doing what it can to ensure there is more interaction and connectivity.
Bloomberg | Bloomberg | Getty ImagesExcess savings from Chinese households could be growth opportunities and will likely bring "active" economic performance for the Hong Kong Exchanges and Clearing, its CEO told CNBC on Thursday. "I think the second and third quarter should be active quarters in terms of economic performance by China," Hong Kong Exchange and Clearing CEO Nicolas Aguzin told CNBC's Emily Tan. He said he sees about $2.5 trillion dollars in excess savings accumulated by Chinese households during Covid. Shares of HKEX gave up gains of more than 1% after the earnings release and closed flat on Thursday. "Macroeconomic and geopolitical conditions led to weak sentiment and softness across the global IPO market," the company said in its earnings release.
Hong Kong spreads its wings, and its bets
  + stars: | 2023-02-23 | by ( Una Galani | ) www.reuters.com   time to read: +7 min
HONG KONG, Feb 23 (Reuters Breakingviews) - For a sign that Hong Kong’s recovery is more than wishful thinking, look no further than the city’s Disneyland. The house of Mickey Mouse is implicitly betting Hong Kong will soon be back, and bigger than before. At its core, Hong Kong’s unique selling point is that it’s China-by-proxy for investors; enterprises in the People’s Republic account for 78% of the market capitalisation of Hong Kong’s main boards. Against such a backdrop, it’s logical that Hong Kong is trying to spread its bets. Hong Kong exchange boss Nicolas Aguzin’s pitch is strengthened by a Chinese plan to let overseas companies listed in Hong Kong be included in the Connect programme.
Countries should strike up more economic alliances than security and defense ones, as those could make the world "more dangerous," the president of the Center for China and Globalization said on Tuesday. The U.S. for example, could consider joining — or "re-joining" — the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Henry Wang said at the SALT iConnections conference in Singapore. "The U.S. is the vibe of globalization and [has] always taken the lead on globalization," Wang said. Wang added that there should be more economic alliances and fewer security ones such as the AUKUS, Five Eyes and the Quadrilateral Security Dialogue, an informal strategic alliance. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a multilateral trade deal signed in 2018 that was formed after the United States, under the Trump administration, withdrew from the Trans-Pacific Partnership.
The Hong Kong Observatory has issued a Signal 8 or higher a total of six times in 2022, twice in 2021, and four times in 2020. What we're focusing on is the resiliency of Hong Kong – Hong Kong has proven time and time again that it can come back. Shortly following the interview, the Hong Kong Stock Exchange suspended trade after the H.K. "What we're focusing on is the resiliency of Hong Kong – Hong Kong has proven time and time again that it can come back. Companies would need to reach a valuation of $250 million Hong Kong dollars, lower than the current requirement of HK$500 million.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong market's resiliency backed by long-term strength and fundamentals, says HKEXNicolas Aguzin of the Hong Kong Exchanges and Clearing says he believes in the long-term strength of the Hong Kong market due to its "special fundamentals" as an international financial center.
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