港股拟大调整！T+2缩短至T+1？

Group 1 - The Hong Kong Stock Exchange (HKEX) has published a discussion paper on shortening the settlement cycle for the stock cash market from T+2 to T+1, which has been the standard since 1992 [1] - The transition to T+1 is expected to enhance market efficiency, reduce systemic risk, and align Hong Kong's market more closely with other international markets [1] - Challenges include addressing time zone differences, foreign exchange conversions, and the need for market participants to upgrade systems and automate processes to maintain operational efficiency [1] Group 2 - Goldman Sachs identified five key priorities for HKEX management this year, including narrowing the bid-ask spread for small and large stocks, with an expected reduction of about 50% for half of the stocks based on average daily trading volume [2] - The potential transition to a T+1 settlement cycle is technically feasible by the end of the year, but the market ecosystem needs to be adequately prepared [2] - Other priorities include reviewing new stock rules, developing a derivatives platform set to launch in 2028, and exploring related businesses that complement existing market advantages, such as data platforms and integrated fund platforms [2]