The Hong Kong stock market will remain open for trading during typhoons and heavy rain. This new regulation will take effect on September 23rd. Hong Kong Chief Executive John Lee stated at a routine press conference on Tuesday that this move will help maintain Hong Kong's competitiveness as a global financial center.
John Lee pointed out during the press conference that this decision is in line with practices in other cities and has received widespread support from traders and banks.
Stephen Wong, Executive Director of Research at BOCOM International, said that the market has reached a consensus on this new measure, allowing trading to continue during extreme weather conditions.
"I believe this measure will not significantly boost market sentiment or trading volume," Wong said, expressing a neutral stance on the measure.
"The market is currently more concerned about whether the stock connect program between Hong Kong and the Mainland can be expanded to include more companies, such as Alibaba. These measures are more important for the Hong Kong stock market," Wong added.
Shares of Hong Kong Exchanges and Clearing fell 0.6% during the midday break, while the Hang Seng Index dropped 0.2%.
