FT News Briefing

Resuscitating Hong Kong’s stock exchange

5 snips
Jan 24, 2024
The Turkish parliament has approved Sweden's NATO membership, a significant geopolitical shift. Meanwhile, Arab nations are unveiling plans for peace between Israel and Hamas, advocating for a two-state solution. On a different note, the leadership change in Hong Kong's Stock Exchange raises questions about its revival amid declining investor confidence and challenges from mainland China. Can the new CEO Bonnie Chan steer it towards recovery? These discussions reveal the complex interplay of international politics and market dynamics.
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INSIGHT

Hong Kong Stock Exchange Struggles

  • Hong Kong's stock market struggled, with the Hang Seng Index dropping nearly 14% last year.
  • Investors are less interested in Chinese companies listed in Hong Kong due to Beijing's crackdowns.
INSIGHT

HKEX Leadership Change

  • The Hong Kong Stock Exchange's leadership is changing, with Nicholas Aguzin stepping down in May.
  • Aguzin's appointment was seen as a bet on Hong Kong's international role, but the timing coincided with Beijing's crackdowns.
INSIGHT

Bonnie Chan's Experience

  • Bonnie Chan, the incoming CEO, has experience dealing with mainland China, unlike her predecessor.
  • This shift reflects Hong Kong's changing landscape and China's growing influence.
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