港交所称，其股票现货市场自1992年以来一直采用T+2结算周期，而其他国际股票市场在过去20年间也 逐渐将结算周期缩短至T+2。近年来，许多市场已转向或正在考虑转向T+1或更短的结算周期。根据世 界交易所联合会和国际交易所的统计数据，港交所预计，到2027年底，全球股票市场88%的交易将采用 T+1或T+0结算周期。 据悉，讨论文件列出了缩短香港股票现货市场现行T+2结算周期的潜在好处和挑战，并参考了其他主要 市场在缩短结算周期过程中的经验，为所有市场参与者展开深入讨论提供了基础。 新华财经北京7月16日电据港交所16日消息，港交所16日刊发了有关缩短香港股票现货市场结算周期的 讨论文件，旨在引导市场就此展开讨论，并与业界就如何及何时缩短结算周期达成共识。 港交所进一步表示，如讨论文件所示，香港向T+1结算周期过度既有好处，也面临挑战。潜在的好处包 括提高市场效率、降低系统性风险，以及让香港市场与其他国际市场更紧密地接轨。同时，转向T+1也 会带来挑战，尤其是对于需要应对时区差异、外汇转换以及更短结算时间窗口的市场参与者来说。为适 应这种变化，市场参与者需要升级系统、实现流程自动化，并与整个市场协调配合，以保 ...

智通财经7月16日电，香港交易所信息显示，贝莱德在信达生物的持股比例于07月10日从4.98%升至 5.18%。 ...

智通财经7月16日电，香港交易所信息显示，摩根大通在哔哩哔哩-W的持股比例于07月11日从13.63%升 至14.77%，平均股价为172.7633港元。 ...

金十数据7月16日讯，香港交易所今天刊发了有关缩短香港股票现货市场结算周期的讨论文件。香港交 易所股票现货市场自1992年以来一直采用T+2结算周期，而其他国际股票市场在过去20年间也逐渐将结 算周期缩短至T+2。近年来，许多市场已转向或正在考虑转向T+1或更短的结算周期。根据世界交易所 联合会和国际交易所的统计数据，香港交易所预计，到2027年底，全球股票市场88%*的交易将采用 T+1或T+0结算周期。本讨论文件列出了缩短香港股票现货市场现行T+2结算周期的潜在好处和挑战， 并参考了其他主要市场在缩短结算周期过程中的经验，为所有市场参与者展开深入讨论提供了基础。 香港交易所发布有关缩短香港股票现货市场结算周期的讨论文件 ...

香港交易所今天刊发了有关缩短香港股票现货市场结算周期的讨论文件，旨在引导市场就此展开讨论， 并与业界就如何及何时缩短结算周期达成共识。此次讨论的结算周期仅限股票现货市场二级市场交易的 结算。 ...

Core Viewpoint - Hong Kong is enhancing its capital market through institutional innovation to maintain its status as a global fundraising hub, with recent reforms aimed at attracting new economy and technology companies to list in the city [1][3][4]. Group 1: Recent Developments - In the first half of the year, Hong Kong saw 42 IPOs raising over HKD 107 billion, a 22% increase compared to the entire previous year, making it the top global market for IPOs [4]. - The Hong Kong Stock Exchange (HKEX) is processing over 200 listing applications as of the end of June, the highest number since 2021 [4]. - The government, along with the Securities and Futures Commission (SFC) and HKEX, is working on further optimizing listing systems to enhance the competitiveness of Hong Kong's listing platform [4][6]. Group 2: Listing System Reforms - The SFC and HKEX are reviewing listing mechanisms to attract more quality enterprises, including overseas and new economy companies, by adjusting listing requirements and improving approval processes [6][8]. - HKEX has relaxed the market capitalization requirements for Greater China issuers and removed conditions for "innovative industry companies," providing greater flexibility for companies with different voting rights structures [6]. - A dedicated "Tech Company Fast Track" was launched to provide specialized guidance for tech and biotech companies during the listing application process [6]. Group 3: Future Strategies - The government and regulatory bodies will continue to promote Hong Kong's financial services, including its listing platform, to attract more international companies [9]. - HKEX plans to simplify the listing process for overseas issuers and expand the range of recognized stock exchanges to facilitate more companies in seeking secondary listings in Hong Kong [8][9]. - A consultation on optimizing the IPO market pricing and public float requirements is set to take place in December 2024, focusing on tiered public float requirements based on issuer market capitalization [7][8].

Core Viewpoint - The article discusses the resurgence of the Hong Kong stock market as a global hub for IPOs, highlighting a significant increase in new listings and capital raised, positioning Hong Kong as a critical player in international finance and investment, particularly for Chinese enterprises [3][4][30]. IPO Boom - In the first half of the year, Hong Kong saw 240 companies enter the market, with 220 more in the pipeline as of June 30 [4][11]. - A total of 43 new stocks were listed, a 43.3% increase compared to the same period in 2024, raising HKD 1,067.1 billion, surpassing Nasdaq [4][10]. - The IPO of Ningde Times raised approximately HKD 357 billion, marking the largest global IPO of the year [8]. Historical Context - The article reflects on the historical evolution of Hong Kong's IPO landscape, from the early days of state-owned enterprises to the current influx of tech and consumer companies [6][14]. - The return of Chinese companies to Hong Kong, particularly in the wake of the pandemic and geopolitical tensions, has revitalized the market [4][30]. Market Dynamics - The article notes that the Hong Kong stock market has become a vital link for Chinese companies seeking international capital, with a significant portion of new listings being from mainland enterprises [4][30]. - The dominance of Chinese financial institutions in underwriting new listings is highlighted, with major players like CICC and CITIC leading the way [16][18]. Investment Trends - The influx of capital from mainland investors has increased, with southbound funds contributing HKD 730 billion, raising their market share to 43.9% [21][22]. - New consumer brands and innovative companies are capturing investor interest, with examples like Moutai and Bubble Mart showcasing unique business models that resonate with global investors [9][20]. Future Outlook - Predictions suggest that Hong Kong could see up to 80 new IPOs in 2024, raising HKD 200 billion, reinforcing its status as a leading global financial center [13][30]. - The article emphasizes the ongoing reforms in Hong Kong's financial market, including the introduction of SPACs and support for tech companies, which are expected to attract more listings and investments [30].

Core Insights - The rise of the Hong Kong gold exchange is reshaping the global gold trading landscape, with a significant increase in daily trading volume and pressure on traditional markets [1][3][5] Group 1: Market Dynamics - In Q1 2025, the average daily trading volume of spot gold on the Hong Kong exchange exceeded 150 billion RMB, marking a year-on-year increase of over 40% [1] - Hong Kong's trading hours effectively bridge the gap between the London close and New York open, enabling nearly 24-hour continuous global gold trading [5] - The growth of RMB-denominated products is challenging the dominance of the US dollar in gold trading, providing new options for global participants [6] Group 2: Strategic Positioning - Hong Kong's geographical advantages and robust financial infrastructure support its role as a key player in the gold market, backed by strong demand from China and Southeast Asia [3][6] - The integration of offshore RMB gold contracts has facilitated direct settlement in RMB, reducing currency risk for regional users [3] - The Hong Kong exchange is becoming a crucial hub connecting Western financial systems with Eastern physical markets, as noted by a senior gold strategist [6] Group 3: Competitive Landscape - The emergence of a "three-pillar" structure in the global gold market, with Hong Kong joining London and New York, is expected to enhance market efficiency but also intensify competition [8] - Companies like Jinrong China are capitalizing on the opportunities presented by Hong Kong's rise and RMB internationalization, expanding their global footprint [7] - The evolving dynamics of gold flow are indicative of a significant shift towards a new global order in gold trading, with Hong Kong at the center of this transformation [8]

智通财经7月15日电， 香港交易所信息显示，纽约梅隆银行在金山云的持股比例于07月11日从10.03%升 至10.12%。 ...

智通财经7月15日电，香港交易所信息显示，摩根大通在中国财险的持股比例于07月09日从8.26%升至 9.16%，平均股价为14.8739港元。 ...