Evolution of Hong Kong Stock Exchange:
The Association of Brokers was founded in 1891.
In 1914 the Association of brokers was renamed as the Hong Kong Stock Exchange
The Hong Kong Shareholders Association Ltd was established in 1978 for the sharing of information between the Hong Kong Stock Exchange and the other exchanges.
Computers were integrated on April 2, 1986, which has helped modernize the system. In 1986 the Hong Kong Stock Exchange merged with the other exchanges but continued to be known as the Hong Kong Stock Exchange. The other exchanges were Far East Exchange Limited, Kam Ngan Stock Exchange Limited and the Kowloon Stock Exchange Ltd. It also presented itself as the Stock Exchange of Hong Kong.
In 2000 the Hong Kong Exchanges and Clearing became the holding company of the Hong Kong Stock Exchange. The held the Hong Kong Futures Exchange established in 1976 and the Hong Kong Securities Clearing Company Ltd established in 1989.
In 1993 the exchange launched the "Automatic Order Matching and Execution System" (AMS) that was replaced by the third generation system (AMS/3) in October 2000[3]. Systems as such were added to meet the increased popularity of online Stock trading.
Hong Kong Stock Exchange
The following are the products of the Hong Kong Securities Market
* Equity: The equity securities are basically of two types that are issued by the Hong Kong Stock Exchange. They are ordinary and preference shares.
* Derivative Warrant Resource Center: The Derivative Warrant Resource Center confirms the information provided by the Derivative market. They are not responsible for any loss that may arise out of inaccuracy of information.
* Callable Bear or Bull Contracts: The Callable Bear or Bull Contracts are structured products. This keeps track of the performances of the underlying asset. This does not require the investors to pay the full price that is required to purchase the actual asset. The investors who enter such a contract take either a bullish or a bearish position. These contracts have fixed expiry dates that are issued by a third party, generally an investment bank.
* Listed Equity Linked Instruments: The Listed Equity Linked Instruments are structured products that are issued by banks and other financial institutions. These products are tailored for retail and institutional investors who want to earn an interest rate higher than the rate of the ordinary time deposits. There are three types of ELIs that are traded in the Hong Kong Stock Exchange and they are Bull , Bear and Range.
* Exchange Traded Funds
* Unit Trust or Mutual Funds
* Bonds
* Pilot Program for trading US securities
The derivative market products include the Risk Disclosure Statement, Equity Index Products, Equity Products, Fixed income and interest rate products.
List of Indices:
***** Hang Seng Index (HSI-HK)
********* Hang Seng China Enterp Index
********* Hang Seng China H-Financials Index
********* Hang Seng REIT Index
********* HSI-Finance Index (HSF-HK)
********* HSI-Utilities Index (HSU-HK)
********* HSI-Property Index (HFP-HK)
********* HSI-Commerce and Industry Index (HSC-HK)
Hong Kong Stock Exchange Trading Floor
***** Hang Seng Composite Index Series
********* Hang Seng Hong Kong Composite Index (HSCI-HK)
************** Hang Seng Hong Kong LargeCap Index (HSHKLI-HK)
************** Hang Seng Hong Kong MidCap Index (HSHKMI-HK)
************** Hang Seng Hong Kong SmallCap Index (HSHKSI-HK)
********* Hang Seng Mainland Composite Index
************** Hang Seng China-Affiliated Corporations Index
***** Hang Seng Composite Industry Indexes
********* Energy
********* Materials
********* Industrial Goods
********* Consumer Goods
********* Services
********* Telecommunications
********* Utilities
********* Financials
********* Properties & Construction
********* Information Technology
********* Conglomerates
Trading Sessions / Market Hours:
*** Pre-Market Session: 09:30 - 10:00
*** Normal Trading Session: 10:00 - 14:00
*** Post-Market Session: 14:00 - 14:10
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