HKEx is down 1.35%, ignoring the appointment of a new CEO

The Hong Kong Exchange (00388-HK) is now down 1.35% to HK $124.60 to deal with 2.4044 million shares, which is now largely synchronized with the news that the new CEO was not appointed Li, because the news was already in the market's expectation; the index fell 1.25%. HKEx said that Li, China's president of JPMorgan Chase, will succeed Mr Chow as chief executive of the Hong Kong stock exchange and take over from January 16, 2010. Li, a lawyer, had worked for Merrill before the firm.　　The board of HKEx said that by virtue of its experience in the international Securities and investment markets, as well as its knowledge of China's capital markets and its mainland relations network, the HKEx would help to further enhance the competitiveness of HKEx. CIMB's Alexander Lee said it was expected that Li would not make any major moves or changes, but the direction might be to strengthen cooperation with the mainland.