Hong Kong Stock Exchange
More recently. Hong Kong Stock Exchange has moved to the forefront of the Asia-Pacific region, thereby making direct competitors from Shanghai and Tokyo scratch their heads pensively.
Гонконгская биржа — зарождение
Known for its martial arts schools and enduring British influence, Hong Kong has also produced another famous brainchild. Hong Kong Exchange. Having appeared around the same time and for similar reasons (rapid development of local industry) as their fellow countrymen from Shanghai, the Southerners still followed a different scenario: since legally Hong Kong belonged to Great Britain, it followed the best English economic traditions. Established in 1891 Hong Kong Brokers Association became a brand in 1914, changing its name to the now famous Hong Kong Stock Exchange. The newly born financial institution immediately turned to rapid growth (the city, which was under the British protectorate, was already a developed economic center, being an important seaport), and also engaged in the purchase of local competitive exchanges, which was finally completed in 2000. In the twentieth century, the well-being of the exchange was hampered only by the Japanese, who took over Hong Kong during World War II, as well as the economic crisis in the late 90's.
From 1995 to 2009. market capitalization of the Hong Kong Stock Exchange increased by more than 5 times. And in 2009, the total amount of funds raised in the course of the initial public offering (IPO) The Chinese stock institute unexpectedly took first place on the planet, with a figure of 23.9 billion dollars, which amounted to 24% of the global volume. The Hong Kong people in this competition surpassed such notable rivals as NYSE Euronext, NASDAQ and fellow countrymen from Shanghai.
Despite its incorporation into the PRC, Hong Kong law is based on British legal principles. The main rule Hong Kong Stock Exchange - equality of rights and obligations of shareholders and holders of depositary receipts. A foreign company wishing to be included in the Hong Kong Stock Exchange listingThe company must meet some of its legal and financial requirements. It is also required to use the services of an advisor (referred to as "sponsor") to ensure that the information about the company at the time of listing is truthful and accurate and that it is licensed to do so.
Opening of the Hong Kong Stock Exchange for the Russian Federation
The first foreign as well as Russian company to place depositary receipts on the Hong Kong Stock Exchange was Rusal, controlled by Oleg Deripaska. In January 2010, after a preliminary restructuring of the company's debt worth $16.9 billion, Rusal floated some 11% shares in the company, raising $2.2 billion. The success of this IPO drew the attention of other Russian owners, such as, Viktor VekselbergThe company is also preparing to float its own shares in Kamchatka Gold. Oleg Deripaska, a pioneer, also enjoyed cooperation with the Hongkongers, who not only plans to repeat the successful IPO experience with his other brainchild, En+ Power, but also has recently become a shareholder of Hong Kong Mercantile Exchange, taking possession of the 10% package.
Hang Seng Index (HSI)
The main indicator of business activity and the state of the Hong Kong Stock Exchange is Hang Seng Index (HSI Index) (named after the bank that owns the analytical company that calculates the index). It is defined as the weighted average price of the securities of the 40 largest companies of the Hong Kong Stock Exchange, giving a total of 65% of the total capitalization of the issuers of this trading floor.