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Lyndon Chao, ASIFMA’s head of equities and post trade was quoted in in Bloomberg story “HKEX, Banks Exploring Ways to Boost Stock, Derivatives Trading.”
From the article –
“’Without liquidity, it will be challenging to attract large
numbers of issuers to list on HKEX,’ especially when China firms
face increasing challenges for overseas listings, said Lyndon
Chao, head of equities and post trade at the Asia Securities
Industry & Financial Markets Association, representing over 165
banks and brokers in the region…
HKEX shares have fallen almost 10% this year, compared with
a 5.1% decline in the benchmark Hang Seng Index.
The 2021 hike that raised the stamp duty on stock trades to
0.13% from 0.10% made Hong Kong the most expensive exchange
among developed markets in the region, based on a $1 million
order, an ASIFMA study in November showed. Taiwan, for example,
has temporarily halved the securities transaction tax from
December 2022 to 2024, triggering a rise in turnover. “
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