HKEX(HK:00388) Zheng Quan Shi Bao·2025-12-22 10:12Core Insights - 2025 marks a transformative year for Hong Kong Exchanges and Clearing Limited (HKEX), focusing on significant reforms in the stock market and strategic investments in fixed income and currency products, aiming to create a vibrant product ecosystem and expand into emerging business areas [1] Group 1: Market Performance and Innovations - In 2025, Hong Kong's IPO market ranked first globally, with a notable increase in financing, and the average daily trading volume reached a historical high of HKD 230.7 billion, up 43% year-on-year [2] - A total of 106 companies listed on HKEX by December 19, raising a total of HKD 274.6 billion, with four companies making it to the global top ten IPOs of 2025 [2] - HKEX launched the Hang Seng Biotechnology Index Futures and the HKEX Technology 100 Index, focusing on the fastest-growing sectors and enhancing risk management tools for investors [3] Group 2: Global Influence and Strategic Partnerships - HKEX strengthened international ties by attracting issuers from Kazakhstan, Singapore, Thailand, and the UAE, and recognized the Thailand Stock Exchange as an approved exchange [4] - The establishment of an office in Riyadh and a commodity pricing subsidiary in Dubai highlights HKEX's strategy to expand its international influence and commodity business in the Middle East [4] Group 3: Market Liquidity and Activity - The derivatives market achieved record performance, with an average daily trading volume of 1.69 million contracts, an 8% increase year-on-year, and stock options being the most actively traded product [6] - The trading of Exchange Traded Products (ETPs) doubled year-on-year, with an average daily trading amount of HKD 37.6 billion, reflecting the growing diversity of products [6] - HKEX implemented measures to reduce trading costs and enhance market liquidity, including lowering minimum tick sizes and optimizing settlement fee structures [6][7] Group 4: Financial Ecosystem Development - HKEX is actively developing a fixed income and currency product ecosystem, investing in 20% of a clearing settlement company to strengthen its strategic partnership with the Hong Kong Monetary Authority [8] - HKEX became an approved delivery point for the London Metal Exchange (LME), with 13 recognized warehouses, marking a significant milestone in developing a global commodity trading center [8][9] Group 5: Community Contribution and Sustainability - HKEX organized a charity event that raised HKD 9.7 million, demonstrating its commitment to social welfare and community engagement [10] - The HKEX Charity Fund increased its donation for caregiver support from HKD 25 million to HKD 50 million, reflecting its dedication to community support [10] - HKEX released guidelines on carbon credits to assist businesses and investors in making informed decisions towards sustainable development [10]