Core Viewpoint - The Hong Kong government is prepared for the impact of Super Typhoon Haikui, ensuring that financial markets can operate smoothly under extreme conditions [1] Group 1: Government Preparedness - The Financial Secretary of Hong Kong, Paul Chan, has stated that the government has made necessary arrangements and activated a coordination center under the Financial Services and the Treasury Bureau [1] - The Financial Services and the Treasury Bureau is in close contact with financial regulators and stakeholders to monitor market conditions and assess potential impacts on financial operations due to weather [1] Group 2: Market Operations - The "No Trading Halt During Typhoon" policy, implemented since September 23 of the previous year, has been in effect for one year, allowing market trading to continue during adverse weather [1] - The Hong Kong Stock Exchange (HKEX) will maintain normal trading operations during the typhoon and has advised financial institutions to allocate manpower and operational resources in advance [1] - HKEX will continue to monitor the situation closely and issue announcements as necessary to keep market participants informed [1]

智通财经APP获悉，9月23日，香港交易所微博发文称，随着"桦加沙"靠近，香港天文台预计将于下午2时20分发 出八号烈风/暴风信号。根据香港交易所的恶劣天气交易安排，香港的证券及衍生产品市场(包括沪深港通)在八号 或以上烈风/暴风信号、黑色暴雨警告或极端情况警告生效期间，将于正常交易时间维持运作。 港交所建议市场参与者尽早作出运营及人力资源调配，并参考既定的恶劣天气交易运作安排，以支持市场平稳运 作。 ...

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has issued a statement advising market participants to make early operational and human resource adjustments in response to the approaching "Hagupit" storm, with the Hong Kong Observatory expected to issue a No. 8 gale or storm signal at 2:20 PM [1] Group 1: Operational Guidelines - HKEX will maintain normal trading hours for the securities and derivatives markets, including the Shanghai-Hong Kong Stock Connect, during the issuance of a No. 8 or higher gale/storm signal, black rainstorm warning, or extreme conditions warning [1] - Market participants are encouraged to refer to established severe weather trading arrangements to support stable market operations [1] Group 2: Recommendations for Investors - Investors should familiarize themselves with the electronic trading platforms and transfer channels provided by banks and securities brokers [4] - It is important for investors to understand the services offered by banks and securities brokers on severe weather trading days [4] Group 3: Employee Preparedness - Employees of securities brokers or banks should be well-acquainted with remote access to company systems and the HKEX systems if necessary [7] - Employees are advised to discuss work arrangements with employers in light of severe weather conditions and to make relevant preparations to respond to potential weather changes [7]

Group 1 - Deloitte anticipates over 80 IPOs in Hong Kong this year, raising between 250 to 280 billion HKD, an increase of 25-40% from the previous forecast of 200 billion HKD [1] - The increase in IPO fundraising is attributed to a favorable capital market in Hong Kong, prompting A+H companies to accelerate their listing plans, with each raising over 1 billion USD (approximately 7.8 billion HKD) [1] - The Hong Kong Stock Exchange (HKEX) is expected to maintain its position as the global leader in IPO fundraising for the year, as the fundraising amount has been adjusted to 250 to 280 billion HKD, significantly ahead of the second-ranked New York Stock Exchange [1] Group 2 - The potential IPOs of Fannie Mae and Freddie Mac, which could be the largest in history, are mentioned, but their listing is unlikely to occur in the fourth quarter of this year due to legislative requirements [1] - The long-term possibility of the two government-sponsored enterprises going public is acknowledged, but immediate prospects for a fourth-quarter listing are deemed low [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) is prepared to continue normal operations despite the approach of Super Typhoon Haikui, which is expected to impact the region [1] Group 1: Weather Impact on Operations - Super Typhoon Haikui has intensified and is moving towards the Guangdong coast, prompting the HKEX to monitor the situation closely [1] - The Hong Kong Observatory plans to issue a No. 8 gale or storm signal on September 23, indicating severe weather conditions [1] Group 2: Trading Arrangements - Starting from September 2024, HKEX has implemented arrangements for trading during adverse weather conditions, allowing its securities and derivatives markets to operate normally during No. 8 or higher gale/storm signals, black rainstorm warnings, or extreme situation warnings [1] - The upcoming typhoon represents a significant test for the new "trading during typhoon" regulations established by HKEX [1]

Core Viewpoint - The 18th typhoon "Haikui" has intensified to a super typhoon level and is approaching the coastal areas of Guangdong, posing a significant test for the Hong Kong Stock Exchange's new trading arrangements during severe weather conditions [1] Group 1: Typhoon Impact on Trading - The Hong Kong Stock Exchange has been informed that the Hong Kong Observatory plans to issue a No. 8 gale or storm signal on September 23 afternoon [1] - The exchange will continue to operate under normal trading hours during the issuance of a No. 8 or higher gale/storm signal, black rainstorm warning, or extreme situation warning, as per the new regulations implemented in September 2024 [1] - This situation marks a critical evaluation of the "trading during typhoons" policy since its introduction [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has issued a statement regarding the impact of Typhoon Haikui, indicating that trading will continue during severe weather conditions, including the issuance of a No. 8 or higher gale/typhoon signal [1] Group 1 - HKEX announced that it expects the Hong Kong Observatory to issue a No. 8 gale/typhoon signal at 2:20 PM [1] - The securities and derivatives markets, including the Shanghai-Hong Kong Stock Connect, will operate normally during the issuance of severe weather warnings [1] - Market participants are advised to make early operational and human resource adjustments in accordance with established severe weather trading arrangements to support stable market operations [1]

Core Viewpoint - The expansion of the "Northbound Swap Connect" aims to enhance risk management tools for overseas investors and promote the internationalization of the Renminbi [1][2]. Group 1: Expansion of Northbound Swap Connect - On September 22, the Hong Kong Stock Exchange, in collaboration with the China Foreign Exchange Trade System and the Shanghai Clearing House, introduced interest rate swap contracts based on the one-year Loan Prime Rate (LPR1Y) under the "Northbound Swap Connect" [1]. - On the launch day, 31 domestic and foreign institutions participated, with a total of 53 transactions and a nominal principal amount of 6.46 billion RMB [1]. Group 2: Market Activity and Future Developments - Since its launch on May 15, 2023, the "Swap Connect" has been operating smoothly, with increasing trading activity, becoming a key channel for overseas institutions to manage Renminbi interest rate risks [2]. - As of August 2025, 82 foreign financial institutions from 15 countries and regions have completed over 15,000 Renminbi interest rate swap transactions, totaling approximately 8.15 trillion RMB in nominal principal [2]. - Starting September 22, the maximum term for existing Renminbi non-deliverable interest rate swap (CNY NDIRS) contracts has been extended from 5.5 years to 11 years to better assist overseas investors in managing interest rate risks [2].

Group 1 - The Hong Kong government welcomes the approval of three warehouses in Yuen Long by the London Metal Exchange (LME) as recognized warehouses [1][2][3] - The expansion of LME's storage facilities in Hong Kong aligns with the policy direction outlined in the Chief Executive's 2025 Policy Address, enhancing Hong Kong's position as an international financial, shipping, and trading hub [2] - With the addition of these three warehouses, the total number of recognized warehouses operated by LME in Hong Kong has increased to eleven, facilitating efficient delivery options for international metal trading [2]

Core Insights - The introduction of interest rate swap contracts referencing the one-year Loan Prime Rate (LPR1Y) under the "Northbound Swap Connect" aims to enhance risk management tools for overseas investors and promote the internationalization of the Renminbi [1][2] Group 1: Market Development - On the launch day, 31 domestic and foreign institutions participated, with a total of 53 transactions and a nominal principal amount of 6.46 billion RMB [1] - Since its launch on May 15, 2023, the "Swap Connect" has facilitated over 15,000 Renminbi interest rate swap transactions, totaling approximately 8.15 trillion RMB in nominal principal from 82 foreign financial institutions across 15 countries and regions by the end of August 2025 [1] Group 2: Investor Benefits - The addition of LPR as a reference rate allows international investors to seamlessly connect with the domestic interest rate derivatives market, enhancing their ability to manage interest rate risks associated with domestic investments [2] - The optimization measures of the "Swap Connect" are expected to attract more international investors to the domestic capital market, thereby accelerating the internationalization of the Renminbi [2] Group 3: Product Expansion - Starting from September 22, the maximum term for existing Renminbi non-deliverable interest rate swap (CNY NDIRS) contracts has been extended from 5.5 years to 11 years, providing better risk management options for overseas investors [3]