Hong Kong SFC Notifies Mainland on Extending Trading Hours, Lunch Break Cancellation Top Option
Hong Kong's Securities and Futures Commission (SFC) has informally notified mainland Chinese authorities about a potential extension of stock market trading hours as part of a five-year strategic plan. SFC Executive Director Liang Zhongxian stated mainland authorities are aware and generally respect Hong Kong's market autonomy. Canceling the midday trading break has received the most attention from brokers. A consultation paper will focus on the industry-preferred direction. Southbound Stock Connect accounts for over 20% of Hong Kong turnover, making mainland readiness crucial. HKEX will also provide a timeline for shortening the settlement cycle to T+1 later this year.
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Hong Kong SFC in Talks with Mainland China on Extending Stock Trading Hours
Hong Kong Securities and Futures Commission (SFC) Executive Director Liang Zhongxian stated that Hong Kong has informally notified mainland China about potentially extending stock market trading hours. He noted that mainland authorities are aware of the discussions and generally respect Hong Kong's market autonomy, without expressing major objections. Hong Kong is studying plans that benefit market development while minimizing impact on the mainland. Liang highlighted that southbound trading under the Stock Connect program accounts for over 20% of Hong Kong market turnover, making mainland readiness a key factor. The option to cancel the midday trading break has received the most attention, and a forthcoming consultation paper will focus on the direction most accepted by local industry. Regarding shortening the settlement cycle to T+1, the Hong Kong Exchange (HKEX) will provide a timeline in a consultation summary within the year. The paper will also address challenges related to ETF subscription and redemption, stock lending, and other arrangements. Liang emphasized the need to give the market sufficient preparation time rather than rushing changes.
Hong Kong SFC Notifies Mainland China on Possible Stock Trading Hours Extension, Lunch Break Cancellation Top Option
Hong Kong's Securities and Futures Commission (SFC) has informally notified mainland Chinese authorities about a potential extension of stock market trading hours, as part of a five-year strategic plan to align with global markets. SFC Executive Director of Market Supervision, Liang Zhongxian, stated that mainland China is aware of the discussions and generally respects Hong Kong's market autonomy, without expressing major objections. The SFC is studying plans that balance market development with minimizing impact on the mainland. Liang noted that since southbound Stock Connect trading accounts for over 20% of Hong Kong's total market turnover, it would be difficult to proceed without mainland readiness. Among various options consulted with brokers, the cancellation of the lunch break has received the most attention, and the upcoming consultation paper will focus on this industry-preferred direction. Regarding shortening the settlement cycle to T+1, the Hong Kong Exchange (HKEX) will provide a timeline in its consultation summary later this year. The document will also detail challenges related to ETF subscription and redemption, stock lending, and related arrangements, emphasizing the need to give the market sufficient preparation time rather than rushing changes.
Read sourceHong Kong SFC Notifies Mainland China on Possible Stock Trading Hours Extension
The Hong Kong Securities and Futures Commission (SFC) has informally notified mainland China about a potential extension of stock market trading hours, as part of its first five-year strategic plan to align with global markets. SFC Executive Director of Market Supervision Liang Zhongxian stated that mainland authorities are aware of the discussions and generally respect Hong Kong's market autonomy, without expressing major objections. The SFC is studying plans that balance market development with minimizing impact on the mainland. Liang noted that since southbound Stock Connect trading accounts for over 20% of Hong Kong's total turnover, it would be difficult to proceed without mainland readiness. Among various options, canceling the midday break has received the most attention, and the upcoming consultation document will focus on this direction. Regarding shortening the settlement cycle to T+1, the Hong Kong Exchange will provide a timeline in its consultation summary this year. Liang emphasized the need to give the market sufficient preparation time rather than rushing changes.
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Hong Kong SFC Notifies Mainland on Possible Trading Hours Extension, Lunch Break Cancellation Top Option
Hong Kong's Securities and Futures Commission (SFC) has informally notified mainland Chinese authorities about a potential extension of stock market trading hours, as part of a five-year strategic plan to align with global markets. SFC Executive Director of Market Supervision, Liang Zhongxian, stated that mainland authorities are aware of the discussions and generally respect Hong Kong's market autonomy, without expressing major objections. The SFC is studying plans that balance market development with minimizing impact on the mainland. Liang noted that since southbound Stock Connect trading accounts for over 20% of Hong Kong's total market turnover, progress depends on mainland readiness. The Hong Kong Exchange has consulted brokers on various options, with canceling the lunch break receiving the most attention. A forthcoming consultation paper will focus on the option most accepted by local industry. Regarding shortening the settlement cycle to T+1, the exchange will provide a timeline in a consultation summary later this year. The document will also detail challenges related to ETF subscriptions/redemptions and stock lending, emphasizing the need for adequate market preparation rather than rushing.
Hong Kong SFC Informally Notifies China on Possible Stock Trading Hours Extension
The Hong Kong Securities and Futures Commission (SFC) has informally notified mainland Chinese authorities about a potential extension of stock market trading hours, as part of a five-year strategic plan to align Hong Kong with global markets. SFC Executive Director of Market Supervision, Liang Zhongxian, stated that mainland authorities are aware of the discussions and generally respect Hong Kong's market autonomy, without expressing major objections. The SFC is studying plans that balance market development with minimizing impact on mainland China. Among various options, canceling the midday trading break has received the most attention from local brokers, and will be the focus of a forthcoming consultation paper. Liang noted that if mainland China is not ready, it would be difficult to proceed, as Southbound Stock Connect trades now account for over 20% of Hong Kong market turnover. Separately, the Hong Kong Stock Exchange will provide a timeline for shortening the settlement cycle to T+1 in a consultation summary later this year. Market speculation includes starting trading 30 minutes earlier at 9:00 AM and adding an evening session from 8:00 PM to midnight to capture US market activity.