1. Consolidating along the uptrend support line @ 454

3. Bullish trend to regain control, if it recaptures above the 50D MA @ 466.80

2. Near term support @ 200D MA @ 439.80

4. Trading volume was 11 percent above the 20-day average @ 1258hrs

5. HKEX gained 31% in the past 52 weeks, while the HSI gained 6.2%

HKEX Plans to Introduce Platform in 2022 to Speed Up IPO Process

(Bloomberg) –Hong Kong’s stock exchange plans to roll out an electronic platform called FINI (Fast Interface for New Issuance) in the fourth quarter of 2022 at the earliest, according to a statement on its website.

  • HKEX has received “overwhelming support” for the FINI proposals to streamline the city’s IPO settlement process
  • HKEX plans to initially adopt T+2 IPO settlement cycle as early as 4Q next year
  • Exchange had set out proposals to reduce this to T+1
  • Hong Kong currently has a T+5 settlement cycle
  • HKEX will invite market participants to join education sessions, on-boarding, market-wide testing and rehearsals to ensure a smooth transition
  • HKEX to host media call on FINI at 3pm local time Tuesday, according to another statement
  • NOTE: November 2020, Hong Kong’s Exchange Unveils Proposal to Speed Up IPO Process