hong kong market

The moves seek to stem a brain drain following Hong Kong’s slow reopening of its international borders.

Hong Kong is raising taxes on stock trading for the first time since 1993.

Hong Kong is doubling-down on its status as a gateway to China, while Singapore will look to Southeast Asia and the globe.

Under exchange rules, the morning trading session will be cancelled if signal No. 8 or above is still hoisted at 9 a.m. Hong Kong time. If the signal isn’t lowered before noon, the entire day’s trading will be abandoned.

The Hang Seng Index fell 0.6% on Monday to close at a six-week low. Top of investor concerns is deciphering the impact on the city’s listed firms from a host of measures taken in the Chinese and U.S. capitols.

“The greatest uncertainty and the downside risks at this point in time is the global external demand, and I don’t think fiscal measures alone will be the most appropriate for this kind of challenge.” - Trade and Industry Minister Chan Chun Sing

More traditional companies in Hong Kong and Singapore are set to benefit from a “new business cycle” globally as their economies recover from the pandemic, according to Citigroup Inc.’s private-banking arm.