The extension of the transaction may not increase the turnover of HKEx: no intention to open half an hour earlier

"The newspaper" (reporter Jensi) Hong Kong stock market and mainland stock market co-operation is increasingly close, the securities industry recently proposed that Hong Kong stocks could open for half an hour early to connect with Shanghai, and said HKEx (0388) that the proposal is technically feasible. The HKEx's independent Donchasmeren, who was asked about the matter yesterday morning, responded by saying "it can be studied". 　　However, a spokesman for HKEx clarified yesterday that the HKEx has not studied the opening of Hong Kong stocks early and has no plans to change the trading time of Hong Kong stocks. Cha said it could be studied by insiders that opening half an hour earlier, due to the increase in trading time, theoretically help to increase the investment in Hong Kong equities, so that brokerages can do more business, but this will also "far-reaching", so that the spot market before the opening period, the futures market open time to be corresponding advance, a wide range of work, 　　The actual meaning of the market is not big. Hong Kong stocks are open at 10 o'clock in the morning and the Shanghai stock market is 9:30 A.M.. Jin Li Fung Securities Research department director Huang several points out, the Shanghai stock market early open also early, each market trading time is different, if coupled with jet lag factor, it is difficult to keep up with, the current world is not the stock market is 24 hours trading. 　　For example, the Japanese stock market opened at 9 o'clock in the morning local time, in a timely manner, that is, equivalent to 8 o'clock in the morning in Hong Kong. In fact, Huang added that Hong Kong stocks had a half hour bidding period before the opening of the 10 o'clock, and that investors could open and set up at 9:30, and the system would be automatically set up at 9:50. 　　As for the outside world, the risk of bidding period is very high is a big game, so that ordinary investors do not have the significance of early trading, Huang a few to deny, and refers to a lot of retail investors in the use of the auction period, and refers to the risk of a small investor can be in the bidding period, set the price limit, just as the formal trading period trading. The extension of the transaction does not necessarily add to the trade, the industry added, the current half hour before the opening period also has an important role, that is, for the spot market to determine the price, if the spot market early to 9:30 open, then the auction period must be retained and advance to 9 o'clock. In addition, the futures market, which is open 15 minutes earlier than the spot market, also needs to be advanced to 9:15. However, the extension of trading time and the number of turnover is not necessarily related to, "the Hong Kong stock trading time increase 4 hours, the daily turnover will increase by one times?" 　　"In the end, he believes, it is likely to be thankless." However, KGI Securities operating President Kwong that early opening is a proposal that can be considered. He pointed out that the performance of Hong Kong stocks had a certain degree of interactivity with other markets, and it would be more appropriate to reflect the external market conditions if Hong Kong stocks could open for half an hour earlier. At the same time, he believes the early opening of the market would help to increase trading volume.