HHEx to launch China index future by year-end
The Hong Kong Exchanges and Clearing (HKEx) plans to introduce a new China index futures contract before the end of the year.
The MSCI China Free Index tracks the performance of Chinese stocks open to foreign investors. The contract was introduced in May 2001 but has failed to gain momentum, with only 28 contracts traded in the second quarter of this year.
In a speech delivered yesterday at a Securities and Futures Ordinance conference, HKEx's chief executive Paul Chow said most of the exchange's business comes from mainland China. “We have to do the right things to attract mainland issuers and eventually investors,” Chow said.But a spokesperson for the exchange declined to give further details on the planned new China derivatives index.
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