Overseas investor participation in HKEx Security Market continues to grow

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Last updated at: (Beijing Time) Wednesday, March 10, 2004

Overseas investor participation in HKEx Security Market continues to grow

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A survey released Tuesday by Hong Kong Exchanges and Clearing Limited (HKEx) shows that overseas institutional investors surpassed local retail investors for the third year in a row to be the largest investor group by turnover value in the HKEx securities market.

There was also an increase in the contribution from local institutional investors for the third consecutive year.

The Cash Market Transaction Survey 2002/03 reveals that for theperiod from October 2002 to September 2003, local investors contributed 58 percent of total market turnover value, while overseas investors, mainly institutional investors, contributed 39percent.

The survey indicated that local retail investors contributed 30percent of total market turnover value and local institutional investors contributed 28 percent.

British investors remained the largest overseas group, contributing 25 percent of overseas investor trading, followed by the rest of Europe (24 percent), the United States (22 percent).

Asia contributed 22 percent of overseas investor trading, up from 20 percent in the previous year. Singapore and the Chinese mainland were the Asian leaders, contributing 9 percent and 8 percent of overseas investor trading respectively.

The survey also shows that on-line trading accounted 8.5 percent of retail investor trading or 2.9 percent of total market turnover of 2002-03.

In the survey, the stock exchange participants (EPs) in the target population were divided into three groups with equal sharesby turnover value -- eight large-sized brokers, 20 medium-sized brokers and 404 small-sized brokers.

Almost half of local investor trading (48 percent) was handled by small-sized brokers, while overseas investor trading was mainlychanneled through large and medium sized brokers.

The annual Cash Market Transaction Survey has been conducted since 1991. For the 2002/03 survey, questionnaires were sent to a target sample which included all large and medium sized brokers and a random sample covering 60 percent of small-sized brokers inthe target population. Out of the 290 questionnaires sent, 272 completed questionnaires were received.

Source:Xinhua

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