Hong Kong will no longer halt stock trading during severe weather, Chief Executive John Lee has announced.
When the Observatory issues the Typhoon Signal number 8 or above, or a black rain warning, investors will still be able to trade in securities and derivatives, or purchase stock through stock connect schemes, Lee announced during a routine press briefing on Tuesday morning.
“The securities market will maintain trading under severe weather conditions. In August last year, the Hong Kong government established a task force on promoting stock market liquidity in order to enhance stock market competitiveness,” Lee said through an interpreter. “I’ve accepted these recommendations.”
Shanghai and Shenzhen already maintain trading during severe weather, with Lee saying there was “no reason” why trading cannot continue in Hong Kong considering trades are made electronically.
The measure will commence from September 23, giving stakeholders an opportunity to prepare.
Details will be laid out in a press briefing by the Financial Services and the Treasury Bureau and Hong Kong Stock Exchange on Tuesday afternoon.
