A surge in trading and new listings has buoyed Hong Kong Exchanges and Clearing Ltd. , which has grown to become the world’s largest exchange operator based on its own market valuation, and the fourth-biggest by value of companies listed on its exchange.
The group’s ascendance also reflects the rise of China’s financial markets to become some of the world’s biggest and most important after those in New York. On Wednesday, however, Hong Kong’s government spoiled what should have been a victory lap for Hong Kong Exchanges. The government appoints half of the company’s board, including its chairman, and holds a stake in the business.
Paul Chan, the city’s financial secretary, proposed lifting the so-called stamp duty on stocks to 0.13% from 0.1%, as part of Hong Kong’s annual budget. Hong Kong is reeling from the effects of the pandemic and earlier social unrest, with its economy shrinking by a record 6.1% last year.
Gee I wonder why chefGeary
Thank you people
That's how you kill Hong Kong.