Hong Kong needs more global listings, wider Stock Connect to strengthen hub role: FSDC

A Hong Kong government think tank, the Financial Services Development Council (FSDC), is advocating for measures to attract more international companies to list on the Hong Kong stock exchange. Newly appointed FSDC executive director Rocky Tung Yat-ngok suggests increased promotion in Southeast Asia and the Middle East, with Indonesia as an initial target due to its large population and strong economic sectors. The FSDC also proposes widening the Stock Connect scheme to include selected international companies with secondary listings in Hong Kong, allowing mainland Chinese investors to trade their shares. These efforts aim to strengthen Hong Kong's role as a global financial hub by diversifying its listing base, which is currently dominated by mainland Chinese firms. The FSDC believes these initiatives will enhance the local capital market's appeal to international businesses.

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