China's hostile meddling threatens Hong Kong market demotion

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Hong Kong's stock market could find itself relegated to the status of an emerging market if Chinese interference in the territory intensifies, the former boss of one of the world's leading index providers has warned

The territory is currently without an official opposition after its

That attractiveness has been jeopardised in recent days, however, by a decision to block the flotation of the Chinese fintech giant Ant Group.The Wall Street Journal reported on Thursday that the decision to block the IPO was taken personally by the Chinese President Xi Jinping. They came up with an arbitrary list of leading British businesses for inclusion, including the brewer Bass, the tyre maker Dunlop, the fabric maker Courtaulds and the engineer GEC.By the mid-1980s however, the futures market was looking for an alternative similar to the S&P 500 index in the US, which led to the birth of the FTSE 100 in 1984.

"[So] the London Stock Exchange, working with the futures market Liffe, designed an index and, originally, it was launched as the SE 100. It was only a month or two later, when the FT joined in the venture, that it became the Footsie. More than 95% of the world's fund managers now use FTSE Russell's benchmarks and more than $3trn worth of money is invested in funds that passively track its indexes.

 

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Hong Kong has gone 😞. Those strong HK ppl have a mountain to battle & backed by HK leader who does what China says!

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