Asia Times Online :: China Business News - Hong Kong market capitalization at all-time high

China Business

Dec 22, 2006

Hong Kong market capitalization at all-time high

HONG KONG - With a bull run this year, the Hong Kong Stock Exchange's total market capitalization now well exceeds HK$12 trillion (US$1.54 trillion), surpassing that of Germany to become the seventh-largest in the world.

Hong Kong Exchanges and Clearing Ltd (HKEx) said the Hang Seng Index reached a record closing high of 19,265.32 on November 23, with the H-shares Index reaching a record closing high of 9,430.28 this Wednesday.

The stock exchange set a year-to-date turnover record of

HK$8.142 trillion, and the average daily turnover set a year-to-date record of HK$33.6 billion, according to the statement.

The derivative warrants market set a new record with a total of 2,725 newly listed derivative warrants and posted a year-to-date turnover record of HK$1.75 trillion.

New records were set in terms of total equity capital raised and initial public offering (IPO) equity capital raised, said the statement.

As of Wednesday, the total equity capital raised reached HK$497.8 billion, comprising equity capital raised by IPOs of HK$325.9 billion and post-IPO equity capital raised of HK$171.9 billion.

Also as of Wednesday, the total number of newly listed companies was 58. Total futures and options turnover rose 61% from 2005 to 41,115,261 contracts, a record high.

Both Hang Seng Index Futures (HSIF) and stock-options trading volume set new records in 2006. Up to Wednesday, the HSIF trading volume rose 24% from 2005 to 12,325,395 contracts and the stock-options volume rose 97% to 17,168,214 contracts.

(Asia Pulse/XIC)

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