Hong Kong Exchanges & Clearing 00388.HK

Hong Kong Exchanges and Clearing, also known as HKEX, operate two major exchanges in Hong Kong: Stock Exchange of Hong Kong and Hong Kong Futures Exchange. HKEX may be a private company, but one of its largest shareholders is the Hong Kong government. The company also provides financial services through its subsidiaries, including integrated clearing and interest rate derivatives. HKEX owns the London Metal Exchange, the largest metal futures exchange in the world.

HKEX can be traded on the Stock Exchange of Hong Kong as 0388.HK. The Hong Kong government’s involvement in HKEX has been heavily criticised by the media and some politicians. The claim is that heavy government involvement violates the Hong Kong ideology of “Big Business, small government.” The government has dismissed this view, saying it wants to help make a positive impact on the HKEX.

The transfer of Hong Kong to Chinese control took place in 1997. However, traders should note that Hong Kong retains a certain level of autonomy, differing from the tight financial and political control that can be found on the Chinese mainland. The Chinese government has promised the British government to give Hong Kong a certain level of independence that will last for several decades.

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