Understanding the Market | Hong Kong Stock Exchange Surges Over 6% Reports Suggest Reducing or Exempting Stamp Duty for Stock Connect Saudi Companies Listing in Hong Kong Imminent

Zhitong
2024.05.10 01:41
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The Hong Kong Stock Exchange is currently up more than 6%, as of the time of writing, up 5.95% to HKD 281.4, with a turnover of HKD 11.01 billion. According to media reports, China is considering exempting mainland individual investors from paying dividend taxes on Hong Kong-listed companies through the Stock Connect program. If the news is true, it will bring significant benefits to Hong Kong stocks. CICC research report believes that if the dividend tax exemption for Stock Connect is implemented, it is expected to further boost mainland investors' enthusiasm for Hong Kong stocks, especially in high-dividend sectors, boosting sentiment in the short term and improving market liquidity in the long term. In addition, Charles Li, the CEO of the Hong Kong Stock Exchange, revealed at the Hong Kong-Saudi Capital Market Forum that large IPOs are expected to return to the market. Currently, 100 companies are queuing up to list on the Hong Kong Stock Exchange, and the situation seen in the second half of April has brought great hope to the Hong Kong market. He also mentioned that there is still a need for mutual understanding between companies and investors from Hong Kong and Saudi Arabia. The Hong Kong Stock Exchange organized 300 one-on-one meetings during this forum to help Saudi investors and companies communicate with investors and companies from Hong Kong and mainland China. After deepening their understanding, the first Saudi company listing in Hong Kong is imminent

According to the Vantage Finance app, the Hong Kong Stock Exchange (00388) is currently up more than 6%, as of the time of publication, up 5.95% to HKD 281.4, with a turnover of HKD 11.01 billion.

On the news front, as reported by the media, China is considering exempting mainland individual investors from paying dividend taxes on Hong Kong-listed companies through the Stock Connect program. If this news is true, it will bring significant benefits to the Hong Kong stock market. According to a CICC research report, if the exemption of dividend taxes through the Stock Connect program is implemented, it is expected to further boost mainland investors' enthusiasm for Hong Kong stocks, especially in sectors related to high dividends, boosting sentiment in the short term and improving market liquidity in the long term.

In addition, Charles Li, the CEO of the Hong Kong Stock Exchange, revealed at the Hong Kong-Saudi Capital Market Forum that large IPOs are expected to return to the market. Currently, 100 companies are in line to list on the Hong Kong Stock Exchange, and the situation seen in the second half of April has brought great hope to the Hong Kong market. He also mentioned that there is still a need for mutual understanding between companies and investors from Hong Kong and Saudi Arabia. The Hong Kong Stock Exchange organized 300 one-on-one meetings during this forum to help Saudi investors and companies communicate with investors and companies from Hong Kong and mainland China. After deepening their understanding, the first Saudi company listing in Hong Kong is imminent

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