港交所重磅改革：优化每手股数，下调散户门槛，分阶段推单一标准

Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) is proposing a framework to optimize the trading unit structure in the securities market, aiming to enhance market efficiency and gradually move towards a single trading unit in the long term [1] Group 1: Proposed Changes - The core recommendations include reducing the number of trading unit types from the current complex structure to 8 options [1] - The minimum value guideline for trading units will be lowered from HKD 2,000 to HKD 1,000 [1] - An upper limit of HKD 50,000 for trading unit value will be introduced [1] Group 2: Market Impact - Approximately 25% of existing listed companies will need to adjust their trading units, which collectively account for a similar proportion of total market turnover [1] - The reform is designed to balance market participation and operational costs for issuers, particularly considering the high proportion of low-priced stocks in the Hong Kong market [2] Group 3: Implementation Timeline - The implementation will be phased, with new listings being the first to adopt the new regulations after the consultation period [3] - Existing issuers will have a 6-month transition period to adjust after completing their transition to a paperless securities market [3]