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Local Investors Most Active On HKEx

by Mary Swire, Lowtax.net, Hong Kong
18 February, 2015

Local investors have regained the largest share of securities market trading at Hong Kong Exchanges and Clearing Limited (HKEx), according to its Cash Market Transaction Survey 2013/14.

The survey found that local investors contributed 45 percent of total turnover on HKEx's securities market from October 2013 to September 2014, up from 38 percent in 2012/13, while overseas investors' contribution dropped from 46 percent in 2012/13 to 39 per cent in 2013/14.

Institutional investors contributed 58 percent of total market turnover last year, against 61 percent in 2012/13, while the contribution from retail investors was 25 percent (22 percent in 2012/13).

Overseas institutional investors still had the biggest share in market trading among the four investor types (local/overseas and retail/institutional), contributing 34 percent of total market turnover, down from 41 percent in 2012/13. Local institutional investors increased their share to 24 percent of total market turnover (20 percent in 2012/13), and local retail investors contributed 20 percent (18 percent in 2012/13).

The United Kingdom (28 percent) continued to account for most of the trading value contributed by investors from outside Hong Kong, followed by the United States (26 percent), and Mainland China (13 percent), and the rest of Europe. In aggregate, Asian investors contributed 29 percent of overseas investor trading in 2013/14, up from 24 percent in 2012/13.

Over the past decade, trading by Mainland Chinese investors grew at a compound annual rate of 28 percent, the highest of all individual overseas origins. Retail online trading accounted for 38 percent of total retail investor trading (compared to 39 percent in 2012/13), and for 9 percent of total market turnover (against 8 percent in 2012/13).

The Cash Market Transaction Survey has been conducted annually since 1991. For the 2013/14 survey, questionnaires were sent to 481 Exchange Participants.

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