Hong Kong fights US rally drain with bold market reforms
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Hong Kong's securities watchdog is pushing new reforms to boost market liquidity. The move comes as emerging markets face capital outflow pressure. A rally in US equities and a stronger dollar are pulling funds away.
Julia Leung, CEO of the Securities and Futures Commission (SFC), announced the measures on Friday. She spoke at a conference organized by the Asian Securities & Financial Markets Association (Asifma).
The reforms include extended trading hours and shorter settlement cycles. Cross-market initiatives are also part of the plan.