Imagine having a day off to celebrate the ocean, or sports, or autumn. The Hong Kong Stock Exchange (HKSE) and Tokyo Stock Exchange (TSE) are both closed a total of seventeen days each to celebrate a variety of cultural, federal, and religious holidays. So, if you happen to trade on those stock exchanges through an electronic broker in the U.S., you may want to mark your calender so you don't get caught off guard expecting to make a transaction on Buddha's birthday (HKSE closed May 12, 2008).
HKSE CLOSINGS
January 1, New Year’s Day
February 7, Lunar Holiday
February 8, Second Day of the Lunar Holiday
February 9, Third Day of the Lunar Holiday
March 21, Good Friday
March 22, Good Friday Holiday
March 24, Easter Monday
April 4, Ching Ming Festival
May 1, Labor Day
May 12, The Buddha’s Birthday
June 9, The following Tuen Ng Festival
July 1, Hong Kong Special Administrative Region Establishment Day
September 15, The following Chinese Mid - Autumn Festival
October 1, National Day
October 7, Chung Yeung Festival
December 25, Christmas Day
December 26, Christmas Holiday
TSE CLOSINGS
January 1, New Year’s Day
January 2, New Year’s Holiday
January 3, New Year’s Holiday
January 14, Coming of Age Day
February 11, National Foundation Day
March 20, Vernal Equinox
April 29, Showa Day
May 5, Children’s Day
May 6, Children’s Day Observed
July 21, Ocean Day
September 15, Respect for Aged Day
September 23, Autumn Equinox
October 13, Health Sports Day
November 3, Culture Day
November 24, Labor Thanksgiving Day
December 23, Emperor’s Birthday
December 31, New Year’s Eve
Showing posts with label Hong Kong Stock Exchange News. Show all posts
Showing posts with label Hong Kong Stock Exchange News. Show all posts
Friday, May 2, 2008
The Stock Exchange Of Hong Kong Publishes GEM Consultation Conclusions
Exchange News Direct, UK
02/05/08
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), today (Friday) published its Growth Enterprise Market (GEM) Consultation Conclusions (GEM Consultation Conclusions). They include details on the proposed development of GEM as a second board.
The GEM Consultation Conclusions present the results of a public consultation held from July 2007 to October 2007. The Exchange received 11 sets of market comments. The respondents comprised members of GEM listed companies, corporate finance and advisory firms, professional organisations, accounting firms and private individuals.
As a result of the consultation and discussions with the Securities and Futures Commission, the Exchange considers that the appropriate way forward is to reposition GEM as a second board, and as a stepping stone towards the Main Board.
Listing Rules amendments will be introduced to reflect the new role of the market but GEM will largely retain its existing structure. The key changes are:
* Under new quantitative admission requirements, applicants will need to have achieved positive cash flow of not less than $20 million in aggregate for two preceding financial years;
* The power to approve the admission of new issuers to GEM will be delegated from the GEM Listing Committee to the Listing Division, and the GEM Listing Committee will retain monitoring, appeal and policy responsibilities;
* Continuing obligations of GEM listed issuers will be brought closer to the requirements applicable to the Main Board requirements;
* Existing GEM issuers will be required to comply with the new rules from their effective date, except that in the case of the public float requirement they will be given a three-year grace period; and
* The process for transferring listing from GEM to the Main Board will be streamlined and there will be a 50 per cent cut in the Main Board initial listing fee for all transfer applicants from GEM. Read the complete article.
02/05/08
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), today (Friday) published its Growth Enterprise Market (GEM) Consultation Conclusions (GEM Consultation Conclusions). They include details on the proposed development of GEM as a second board.
The GEM Consultation Conclusions present the results of a public consultation held from July 2007 to October 2007. The Exchange received 11 sets of market comments. The respondents comprised members of GEM listed companies, corporate finance and advisory firms, professional organisations, accounting firms and private individuals.
As a result of the consultation and discussions with the Securities and Futures Commission, the Exchange considers that the appropriate way forward is to reposition GEM as a second board, and as a stepping stone towards the Main Board.
Listing Rules amendments will be introduced to reflect the new role of the market but GEM will largely retain its existing structure. The key changes are:
* Under new quantitative admission requirements, applicants will need to have achieved positive cash flow of not less than $20 million in aggregate for two preceding financial years;
* The power to approve the admission of new issuers to GEM will be delegated from the GEM Listing Committee to the Listing Division, and the GEM Listing Committee will retain monitoring, appeal and policy responsibilities;
* Continuing obligations of GEM listed issuers will be brought closer to the requirements applicable to the Main Board requirements;
* Existing GEM issuers will be required to comply with the new rules from their effective date, except that in the case of the public float requirement they will be given a three-year grace period; and
* The process for transferring listing from GEM to the Main Board will be streamlined and there will be a 50 per cent cut in the Main Board initial listing fee for all transfer applicants from GEM. Read the complete article.
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