Hong Kong is seeking new funds that attract Saudi Arabia to help offset more and more challenges facing the Hong Kong stock market, and a large number of Saudi officials also seek more opportunities to contact Asian investors.
Comprehensive Bloomberg and Sing Tao Daily reported that the Saudi Stock Exchange Group and the Hong Kong Stock Exchange jointly organized the "Hong Kong-Saudi Capital Market Forum" on Thursday (May 9).It is reported that the time point of this forum is very suitable, because Hong Kong needs new stock listing and capital inflows to enhance its status as a financial center. At the same time, Saudi investors also hope to expand the opening of Asian investors.
Bloomberg Love Analyst Edmond Christou, an analyst at Dubai, has recently met with investors and companies in Hong Kong, Shanghai and Beijing.He said: "Strong political willingness is promoting the relationship between China and Gulf countries." "When you talk to Chinese companies, you will hear customers who are interested in investing in the Middle East. They are looking for a way to achieve this goal."Essence
In recent years, the days of the Hong Kong Stock Exchange have been difficult to get well. The staggered Chinese economy and the increasingly tense relationship between China and the United States have weakened investors' interest in Chinese stocks.In the first quarter of this year, Hong Kong's IPO financing volume fell to US $ 610 million (S $ 827 million), the lowest level since 2009, and the share price of the Hong Kong Stock Exchange also fell more than 50%from the high in early 2021.
In this regard, the China Securities Regulatory Commission announced last month that the five capital markets were in Hong Kong cooperation measures, including supporting the leading companies in the mainland industry to go public in Hong Kong, in order to boost the external confidence in the Hong Kong stock market.
Chen Yiting, the newly appointed president of the Hong Kong Stock Exchange, said on the forum on Thursday that the constant index and transaction volume has improved significantly from April this year.In the same way, S $ 22.5 billion) to 150 billion yuan, even during the May 1st holiday, it recorded over 100 billion yuan in transactions.
She also said that Hong Kong has held a number of Middle East activities. It is believed that it can provide good contact and dialogue opportunities for both parties, and believe that Saudi companies are listed in Hong Kong, or Hong Kong companies go public in Saudi Arabia.
Hong Kong announced on Thursday that it is cooperating with Saudi Arabia to launch an ETF that tracks the Hong Kong stock index in Liye.Huang Weilun, deputy director of the Hong Kong Financial Secretary, said at the forum that day that the formal negotiation of the "Promotion and Protection of Investment Agreement" between Hong Kong and Saudi Arabia's two financial centers has begun.
He said that Hong Kong is a bridge connecting China and the international market. It can become a Saudi financing platform and can also be used as a springboard for Saudi Arabia to enter the Chinese market.He also described the cooperation between the two parties with "two people's concentric, his profits and disconnection", that is, the cooperation between the two parties cooperated to achieve their own goals.
