Hong Kong Exchanges and Clearing (HKEX)

Hong Kong Exchanges and Clearing (HKEX) is the operator of Asia’s third-largest stock exchange. It is currently newsworthy due to a combination of record financial performance, significant listing reforms, and strategic considerations regarding its global competitiveness. Recent developments include a reported record-high annual profit for 2025 driven by increased market turnover and IPO activity, and a surge in IPO applications at the start of 2026. HKEX has also proposed its biggest set of listing reforms since 2018, aiming to attract more diverse and innovative companies, including those in new energy, AI, EV, and biotech sectors, by broadening its special listing regime and lowering minimum valuation thresholds. Furthermore, discussions are ongoing regarding extending trading hours to better compete with other global exchanges. The exchange is also exploring potential partnerships with other exchanges, including the Singapore Exchange (SGX), to enhance connectivity and expand its reach. However, there are also reports of a former executive, Ba Shusong, being out of public sight, though the implications of this are unclear.