Hong Kong Exchange (00388) Chen Yiting: Extending trading hours is the trend, but may not be suitable for Hong Kong stocks.

The Nasdaq Stock Exchange in the United States is preparing to extend trading hours. At the HSBC Global Investment Summit 2026, Chief Executive of the Hong Kong Stock Exchange (00388) Laura Cha believed that while extending trading hours is certainly a trend and something that investors today are seeking, it may not necessarily be suitable for the Hong Kong stock market, so careful consideration is needed. She mentioned that if the Hong Kong Stock Exchange were to also extend trading hours, allowing American investors to trade Hong Kong stocks during their daytime, it would also need to consider whether this would disadvantage local Hong Kong investors, as they would still be sleeping at that time and waking up to a potentially very different stock market. She further pointed out that currently, derivative markets are active until 3am, and the Hong Kong Stock Exchange has the ability to further extend trading hours, but this would need to be carefully considered in terms of the securities market. Cha stated that if we were to use a 24-hour retail store as an analogy, the fact that a store is open 24 hours is not necessarily its main appeal. What really attracts customers is the products that the store offers. She emphasized that for a company that operates 24 hours a day, does the CEO really need to be waking up constantly to make disclosures? The functioning of these mechanisms is a question, and from the perspective of market manipulation, information flow in the Hong Kong stock market is subject to very strict regulation. From the perspective of market evolution, market integrity and cleanliness are very important aspects. Chief Executive John Lee Ka-chiu recently mentioned that there are over 500 listing applications currently in the queue. Cha stated that not all of the companies queuing for listing in Hong Kong are Chinese companies. Looking at the 120 companies listed on the stock exchange last year, about 50 companies had over 50% of their revenue coming from outside of China. She classified them as Chinese multinational companies, which are very international. She also noted the strong interest from international companies in listing on the Hong Kong Stock Exchange. Cha mentioned that last year, the Hong Kong Stock Exchange welcomed companies headquartered in Thailand, Singapore, and Dubai, with all their operations in Africa and Latin America. This year, there are over 10 internationally renowned companies in line to list on the Hong Kong Stock Exchange, showing a healthy supply side. On the demand side, it showcases the international nature of the Hong Kong Stock Exchange. She stated, "If you look at the cornerstone investors of last year's IPOs, you will see strong international buying interest. These cornerstone investors come from North America, Europe, the Middle East, and other regions of Asia, and this trend has continued. I believe the world has realized there is a serious shortage of investment in China and Asia and is working to catch up."