Wednesday, October 16, 2019
 
Columnist
Martin Hennecke

No regrets on lost bid, says Li
 
11/10/2019
 
Hong Kong Exchanges and Clearing (0388) should have proposed its takeover deal for London Stock Exchange at an earlier time, given the strict supervisory regulations in the United Kingdom, according to the bourse's chief executive Charles Li Xiaojia. Li said he never regretted the 32 billion (HK$ 307 billion), bid, which was given careful consideration and preparation. He said western bourses were focusing on big data and other businesses as they had ruined their dealing business and abandoned the core competitiveness of exchanges - price discovery and trading - over the past 20 years. He added that selling investors' trading data was not a sustainable business. Li said Hong Kong's initial public offering market remains healthy, pointing out that five new stocks made their debut this week and most of them outperformed. There are six unprofitable biotech companies waiting to go public, he added. Li said Hong Kong was facing a "perfect storm," but the city has to ride out the storm on its own. Elsewhere, MSCI plans to include stocks listed on China's new Nasdaq-style STAR market in its indexes from next month. Beijing is continuing to open up its financial markets despite the ongoing Sino-US trade spat, while major index providers, including MSCI, FTSE Russell and S&P, have begun or are stepping up index inclusion of China A-shares.
Previous news : Trade deal is no panacea for world's woes
 

 

 
Login
Password
Register  Forget Password
Advanced Search
© 2019 The Standard, The Standard Newspapers Publishing Ltd.
Home | Business | Metro | Focus | Opinion | Markets | World | Sports | Entertainment | Monday Money | Property | Macau | Weekend