57 days ago • Posted by William Ramstein
Hong Kong Exchange is larger than Nasdaq and London combined.
The exchange’s shares fell on Wednesday amid reports the city will raise the stamp duty on stock trading for the first time since 1993, potentially cutting trading volumes. The shares were down 5.4% as of noon. Analysts for now are bullish the exchange can continue to ride the current boom of more mega-IPOs. It could also get a boost from a proposal by Hang Seng to expand the city’s benchmark index from the current 50. Source; Bloomberg