Getting Started

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How did HKEX develop into its existing framework?

To increase their competitiveness to meet increasingly globalised challenges, the Stock Exchange of Hong Kong Ltd (SEHK), the Hong Kong Futures Exchange Ltd (HKFE) and the Hong Kong Securities Clearing Co Ltd (HKSCC) merged on 6 March 2000 into a single controlling company known as Hong Kong Exchanges and Clearing Limited (HKEX). HKEX listed on SEHK on 27 June 2000. In December 2012, HKEX acquired the London Metal Exchange (LME), the world’s premier metal exchange. In May 2012, OTC Clearing Hong Kong Limited (OTC Clear) was incorporated as the clearing house of clearing OTC Derivatives in Hong Kong.

With SEHK, HKFE, HKSCC, LME and OTC Clear as subsidiaries, HKEX is composed of various business functions each led by the management and the board of directors. The board of directors, as the highest decision-making unit, lays down HKEX’s objectives, missions, strategies, policies and business plans, and oversees execution by the management.

For more information about HKEX, please visit "About HKEX" at the HKEX website.

What are the procedures for a visit to the Exchange Exhibition Hall?

Any group interested in visiting the Exchange Exhibition Hall during business hours on a weekday shall email its request to us by completing an Application Form and, also, providing us with a copy of business card at visit@hkex.com.hk. Such a visit request shall be submitted to us no less than three weeks before the intended date of the visit. A written confirmation will be sent to the relevant party if the application is accepted. The Application Form is available at the HKEX website at http://www.hkex.com.hk/Global/About/Visit-HKEX/Visit-the-Exchange-Exhibition-Hall?sc_lang=en.

Where can investors obtain information about overseas exchanges?

For information about exchanges outside Hong Kong, investors may contact the World Federation of Exchanges (www.world-exchanges.org).

In what way is the regulatory role of HKEX different from that of the Securities and Futures Commission?

The Securities and Futures Commission (SFC) is an independent statutory body responsible for regulating the market, safeguarding market integrity, and enforcing securities and futures market legislation. Parties regulated by the SFC include Hong Kong Exchanges and Clearing Limited (HKEX) and its subsidiaries (including the stock and futures exchanges and associated clearing houses), financial market intermediaries (namely securities dealers which include Exchange Participants; sponsors; share registrars; fund managers; and investment advisers) and investors.

The SFC’s statutory regulatory objectives are:

to maintain and promote the fairness, efficiency, competitiveness, transparency and orderliness of the securities and futures industry;
to promote understanding by the public of the operation and functioning of the securities and futures industry;
to provide protection for members of the public investing in or holding financial products;
to minimise crime and misconduct in the securities and futures industry;
to reduce systemic risks in the securities and futures industry; and
to assist the Financial Secretary in maintaining the financial stability of Hong Kong by taking appropriate steps in relation to the securities and futures industry.

Regulation of takeovers, share repurchases and privatisations, which may involve investor conduct, is also the responsibility of the SFC.

HKEX is the operator of Hong Kong’s central securities and derivatives marketplace and the front-line regulator of listed issuers (including listed companies). In this role, HKEX regulates listed issuers; administers listing, trading and clearing rules; and provides services at the wholesale level to customers of the exchanges and clearing houses, including issuers and intermediaries (namely investment banks or sponsors, securities and derivatives brokers, custodian banks and information vendors) who service investors directly. Services provided by the exchanges and clearing houses include trading, clearing and settlement, depository and nominee services, and information services.

For more SFC and HKEX regulatory information, please visit the SFC website at www.sfc.hk and the “How We Regulate” section under "Listing Regulations" of the HKEX website.

How does HKEX enforce the Listing Rules?

HKEX is the operator of the central securities and derivatives marketplace and the front-line regulator of listed issuers. HKEX carries out regulation of listed issuers and any relevant party in accordance with the Listing Rules. A listed company shall comply (and undertakes pursuant to its application for listing to comply) with the Listing Rules. Each director of a listed company is required to use his/her best endeavours to abide by the Listing Rules and procure the listed company’s compliance with the Listing Rules pursuant to a Director’s Undertaking.

HKEX’s regulatory functions in respect of listed companies are carried out by the Listing Division and the Listing Committee. Their responsibilities mainly include: (1) the formulation and administration of Listing Rules, which set out listing requirements for listing applicants and obligations of listed companies and the relevant parties; and (2) the impartial enforcement of the Listing Rules.

HKEX is committed to closely monitoring compliance with the Listing Rules. Measures include the monitoring of share price movements and media reports, and the vetting of important announcements and documents. Potential Listing Rule breaches are investigated by the Enforcement Department of the Listing Division and disciplinary actions may then be commenced against any relevant parties (including the listed company and any responsible individuals). Both listed companies and their directors have an obligation to cooperate with an investigation carried out by the Listing Division. In cases where the conduct may amount to possible breaches of law, the Listing Division will refer those cases to the appropriate law enforcement authority.

The “Listing Regulations” page on the HKEX website contains useful references including the Listing Rules and latest updates in the “Rules and Guidance” section and details and information about the Enforcement Department’s work and enforcement policy in the “Disciplinary & Enforcement” section.

How does regulation differ between companies incorporated in Hong Kong and those which are not?

All companies seeking a primary listing in Hong Kong, regardless of their place of incorporation, are subject to the Listing Rules, the SFC’s Codes on Takeovers and Mergers and Share Repurchases and other applicable regulations. The Listing Rules apply as much to overseas companies listed in Hong Kong as they do to companies incorporated and listed in Hong Kong. The overseas companies may also be subject to additional requirements, modifications or exceptions set out in the Listing Rules.

Which organisation is responsible for the regulation of takeovers, mergers, privatisations and share repurchase activities?

The Codes on Takeovers and Mergers and Share Repurchases govern takeovers, mergers, privatisations and share repurchases. The SFC is responsible for administering these two Codes. For details of regulation of takeovers and share repurchase, please visit its website on www.sfc.hk.

Can HKEX stop the management of listed companies from proposing or conducting transactions considered "unfavourable" to minority shareholders?

Terms of a listed company's transactions are commercial decisions for its board and shareholders. As the frontline regulator of listed companies, HKEX cannot know more about a company's business development and capital needs than its directors, management and shareholders. If HKEX interferes with the commercial decisions of listed companies, the companies may miss opportunities for investment and business development. Therefore, HKEX cannot and should not intervene in commercial decisions made by directors and shareholders of a listed company. However, listed companies must adhere to the general principles of the Listing Rules such that all holders of listed securities are treated fairly and equally and that directors of a listed company act in the interests of its shareholder as a whole, particularly where the public represents only a minority of the shareholders. Directors of listed companies also have an obligation and fiduciary duty to ensure transactions are fair and reasonable, and are in the interest of the listed company and its shareholders. The Listing Rules include provisions to ensure that shareholders have the appropriate opportunity to vote on major decisions made by the management of listed companies. The Listing Rules also include provisions requiring shareholders who may have a potential conflict of interest in a transaction to abstain from voting at general meetings where shareholders are asked to approve the transaction.

What should an investor do if he/she has queries about the conduct of brokers or other intermediaries?

Investors who have opened a securities account at a brokerage house should seek assistance from the Securities and Futures Commission (the SFC, www.sfc.hk) if they have queries on brokers' conduct. Investors who trade through banks should contact the Hong Kong Monetary Authority (the HKMA,www.hkma.gov.hk).

What protection is there for an investor who suffers monetary losses as a result of "default" by an intermediary such as a broker?

Investors can claim compensation from the Investor Compensation Fund. The fund is administered by the Investor Compensation Company, a wholly-owned subsidiary of the Securities and Futures Commission. The fund will pay compensation to investors of any nationality who suffer pecuniary losses as a result of default of a licensed intermediary or authorised financial institution in relation exchange-traded products in Hong Kong. The compensation is applied on a per-investor basis. There is a compensation limit of $150,000 for trading of securities and $150,000 for trading of futures contracts. For details, please visit the website of the Investor Compensation Company at: www.hkicc.org.hk.

What information do I need to provide in my complaint?

The Exchange can best review a complaint if it receives accurate and complete information from the complainant. The following information should be included in a written complaint so that we can properly and effectively address it:

Name of the party or parties involved, and where your complaint relates to listing matters, the name of the issuer or listing applicant, or individuals (e.g. directors, substantial shareholders) associated with either the issuer or listing applicant of which the complaint relates;
Details of any alleged breaches of our rules, regulations or practices which undermine investor confidence in our markets. Please include dates and parties involved, where relevant;
Copies of any documents that provide evidence that supports the complaint; and
Name, mailing address, email address and telephone number of the complainant.

We require solid information (substantiated with sufficient details) on the alleged wrongdoing before taking follow-up action. In addition, complainants should be prepared to answer follow-up questions from us. If we are not able to obtain the information we need, it creates difficulties for us to follow up on a complaint.

We discourage anonymous complaints or comments. Although anonymous complaints or comments will be noted, we may not be able to proceed with them further because we may need to contact the complainant to seek substantiation of the alleged matters, request clarification of facts or seek further information. Unsubstantiated and/or anonymous complaints will severely constrain the Exchange's ability to pursue the complaints.

How does the Exchange review my complaint?

We are committed to dealing with complaints quickly. However, the period of time required for following up on the complaints depends on the circumstances of each case.

We acknowledge receipt of complaints and review them for possible follow-up action. Complaints stemming from commercial disputes or containing elements of bad faith will not be pursued.

In confidence

All complaints will be treated in strict confidence although the Exchange may need to disclose information to other regulators and agencies to properly pursue the complaints. Such disclosures would however be made under the confidentiality provisions of the Securities and Futures Ordinance.

The Exchange may have to disclose details to the listed company to allow it to respond to the Exchange on the issues raised. The Exchange is mindful of the need to protect the identity of individual complainants and where circumstances allow and it is in its view appropriate the Exchange will discuss with the complainants the extent of disclosures it may need to make.

The Exchange adopts a risk based approach

The Exchange reviews and evaluates each complaint to determine what action to take. The Exchange will decide to take no further action on complaints. Typically these will be complaints which are anonymous or where insufficient or inaccurate contact details are provided. Other complaints may not be pursued because they appear groundless, are trivial, contain too few details or are unrelated to breaches of the Listing Rules or practices which undermine investor confidence in the markets. Complaints designed to pursue commercial disputes or which contain elements of bad faith will not be pursued.

Feedback

Upon receipt of a complaint the Exchange will issue an acknowledgement to the complainant.

It is the Exchange's general policy not to comment on individual companies, individuals, or cases. This policy enables the Exchange to conduct its enquiries and investigations on a confidential basis to preserve the integrity of its process as well as to protect listed companies and their directors against whom unfounded accusations may be made or where the Exchange determines that further regulatory action is not necessary or appropriate. In certain exceptional circumstances, it may be appropriate for the Exchange to comment about specific matters. The key reasons why the Exchange may adopt this approach are to maintain public confidence in the regulation of the market or to maintain a fair, orderly and informed market for the trading of securities; to protect investors; to prevent widespread malpractice; or, help the investigation process.

For these reasons and to ensure that the Exchange meets its statutory obligation to maintain confidentiality it will not respond to complainants with a detailed account of how their concerns have been addressed or what it has discovered during the process. The Exchange may however, to the extent permitted by law, inform complainants about the status of a case at appropriate times and may provide brief reasons when it closes a case without regulatory actions. Where the regulatory action the Exchange takes results in a public statement by either the Exchange or an issuer there will be greater transparency about the outcome.

How will you deal with my whistleblowing report?

Genuine whistleblowing reports about relevant matters will be investigated promptly. If contact details are provided or the electronic system is used, we will acknowledge receipt of your report. All whistleblowing reports will be treated confidentially. HKEX will not divulge your identity unless it is required by the relevant regulatory or enforcement authority.

Which indices are generally used to track the performance of the Hong Kong stock market?

Hong Kong stock market performance is gauged by various indices, including the Hang Seng Index, the S&P/HKEX LargeCap Index, the S&P/HKEX GEM Index, the FTSE/Xinhua indexes and the MSCI indexes.

The Hang Seng Index, complied by Hang Seng Indexes Company Limited, is most widely used in Hong Kong to reflect the performance of the stock market. The index is reviewed by the company on a regular basis and is currently composed of about 50 stocks representing approximately 50 per cent of the market capitalisation of the Main Board. As the Hong Kong market developed, a series of indices based on issuers’ regions and industries and the liquidity of their shares emerged to reflect the performance of various types of stocks listed in Hong Kong. These indices such as the Hang Seng China Enterprises Index, the Hang Seng China H-Financials Index and the Hang Seng China-Affiliated Corporations Index. For information about the Hang Seng Index series, please visit the Hang Seng Indexes website at www.hsi.com.hk.

The S&P/HKEX LargeCap Index is composed of 25 stocks representing about 75 per cent of the total market capitalisation of the Main Board. Designed to track the performance of shares listed on GEM, the S&P/HKEX GEM Index has no fixed number of constituents but each of its constituents is subject to strict liquidity requirements. For information about the S&P/HKEX index series, please visit the Standard & Poor’s website at www.standardandpoors.com.

What are the notable differences between the Hong Kong and Mainland securities markets?

The two markets differ in many aspects, including:

The Hong Kong market is more international and has more institutional investors. Institutional investors from Hong Kong and overseas account for about 65 per cent of total turnover. As investors in different markets differ in their judgments about securities valuation and market prospects, investors should exercise prudence when participating in the Hong Kong securities market.
The Hong Kong market offers greater product choices to cater for investors with different risk preferences. The products include equity securities, equity warrants, derivative warrants, Callable Bull/Bear Contracts, or CBBCs, Exchange Traded Funds, or ETFs, Real Estate Investment Trusts, or REITs, and debt securities.

The two markets also differ in trading arrangements, for example:

The Mainland’s circuit breakers trigger the suspension of trading in shares of companies when their prices move beyond a certain limit. In the case of Hong Kong’s Volatility Control Mechanism (VCM), a five minute cooling-off period is triggered if the price of an applicable security deviates more than ±10% away from the last traded price five minutes ago. During the cooling-off period, trading is allowed within a pre-defined price band. Normal trading without restriction will resume after cooling-off period. VCM in the securities market is only applied on all Hang Seng Index and Hang Seng China Enterprise Index constituent stocks as well as only applicable to board lot order input during certain periods of the Continuous Trading Session. Hong Kong law forbids trading suspensions by Hong Kong’s stock exchange in the absence of orders given by the Securities and Futures Commission in consultation with Hong Kong's Financial Secretary.
In Hong Kong, screens displaying quotations for stocks whose prices are rising are in green while those for stocks with falling prices are in red. The reverse applies on the Mainland, rising prices are shown in red and falling prices in green.
Transactions in the Hong Kong market are usually denominated in Hong Kong dollars, while those in the Mainland are usually in renminbi.
In Hong Kong, dealers may engage in day trades for clients, meaning securities may be sold on the same day they are purchased. On the Mainland, with a few exceptions like ETFs and warrants, securities must be credited into an account before they can be sold.
In Hong Kong, the settlement cycle for securities settlement between the clearing house and brokers is T+2. However, all settlement arrangements between brokers and clients are commercial agreements between the two parties. Investors should check the arrangements with their brokers before entering into a transaction. For example, they should enquire if purchases require immediate payment and when proceeds from a share sale can be received. On Mainland, the settlement cycle for securities settlement is usually T+1. Moreover, investors are required to pay in full in advance for buy orders and to have sufficient securities in the custody of their brokers for sell orders.
The Hong Kong securities market allows investors to hold physical certificates after purchases. Such practice is not allowed in the Mainland securities market.

What are H-share companies?

H-share companies are companies incorporated in Mainland China and listed in Hong Kong. Shares in these companies are listed in Hong Kong, subscribed for and traded in Hong Kong dollars or other currencies, and referred to as H shares. After finding its way into the Listing Rules, the term H share has been accepted and is widely used in the market. The letter H stands for Hong Kong. Please refer to the Main Board Listing Rules or GEM Listing Rules for the formal definition of “H Shares”.

What are "non-H-share Mainland enterprises"?

Non-H-share Mainland enterprises are enterprises incorporated outside Mainland China and are controlled by either Mainland government entities (referred to as “red-chip companies” prior to 2024) or Mainland individuals (referred to as “Mainland private enterprises” prior to 2024). This classification is for statistics presentation only.

How can investors participate in the Hong Kong securities and derivatives markets? How should they select a securities or derivatives dealer?

Investors need to trade Hong Kong securities and derivative products through Securities and Futures Commission (SFC) licensed persons or registered institutions. Investors may refer to the "Public Register of Licensed Persons and Registered Institutions" at the SFC website (www.sfc.hk) for the list of licensed persons and the regulated activities they are licensed to conduct.

If a licensed person or registered institution is an Exchange Participant, its trading facilities can have direct access to HKEX's trading facilities. A list of Exchange Participants is available at “Participant Information” of “Find a Partner” under “PRODUCTS” of the HKEX website.

When selecting a securities or futures company, investor should compare services and fees of different companies. Companies who provide in-depth research, investment advice or other value-added services may charge higher commissions than those which merely trade on behalf of clients. Some offer cash accounts only; others also manage discretionary accounts or margin accounts. Investors should weight their own investment and financial needs carefully before deciding on a securities or futures company and the type of accounts to be opened.

HKEX operates securities and derivatives markets that are open and free and welcomes the participation of investors from all over the world. However, overseas investors should comply with regulations governing overseas trading in their own countries or places of residence before trading in Hong Kong.

What are the procedures for opening a securities or futures account?

When opening a securities or futures account, investors are required to fill in an application form and sign a client's agreement. Requirements relating to basic information in a client's agreement including specific risk disclosure statements are set out in the Code of Conduct for the Persons Licensed by or Registered with the SFC.

As the client's agreement is legally binding, investors should only sign it when they are sure that all information is correct. When in doubt, they must seek legal advice.

In their own interest, investors should open accounts with securities or futures companies in person, and before dealing in securities or futures, they should make sure that they know the due day for settlement and the basis on which commission, interest and other charges are calculated. To protect market interests, securities or futures companies may require prospective clients to provide reference letters. They may accept only investors with references from existing clients or the companies' acquaintances to ensure prospective clients' capability to meet the obligations of share transactions.

Where can investors obtain annual reports from listed companies?

Main Board and GEM listed companies are required to post their annual reports, interim reports and financial statements on the HKEXnews and GEM websites for public viewing when they dispatch these corporate communications to shareholders. The documents shall also be posted on the listed companies’ websites for at least five years.

Provided that the listed companies have ascertained the wishes of shareholders and complied with legal requirements and provisions of their own memorandum and articles of association, they are permitted to distribute summary financial reports in place of full annual reports. They may also make available to shareholders the annual reports in Chinese or English only and using electronic means or in a printed copy. However, shareholders of a company who choose to receive summary financial reports are entitled to request a full annual report. Shareholders who choose to receive annual reports in electronic format are entitled to request a printed copy. Shareholders who request a full annual report or a printed copy of the annual report should be promptly sent one free of charge.

Where can investors get the lists of listed companies’ directors and shareholders?

Investors can check the list of directors from a listed company’s annual report or latest announcements or circulars. They can also download the list or search by stock code, listed company’s name or director’s name from the List of Directors under the Issuer-related Information section on the HKEXnews website.

For the list of shareholders, any individual and shareholders of a listed company may inspect the register of members (ROM) at the share registrar of the listed company. The registered shareholders’ inspection is free of charge, while non-registered shareholders will have to pay a service charge to the share registrar for every inspection.

Investors should note that at present over 70 per cent of shares on the market in quantity terms are deposited into HKEX’s Central Clearing and Settlement System (CCASS) and all the shares held in CCASS are registered in the name of HKSCC Nominees Limited, a wholly-owned member of the HKEX group. Therefore, HKSCC Nominees Limited appears as one of the major shareholders on the ROM of most Hong Kong-listed companies. To increase market transparency, HKEX introduced a new online CCASS Shareholding Disclosure service on 28 April 2008. With the new service, the public is able to look up the total number of shares held in a company listed in Hong Kong on a specified date in the past year by each CCASS Participant and Investor Participant who has consented to the disclosure by entering the date and the company’s stock code in the CCASS Shareholding Search on the HKEXnews website.

Furthermore, in accordance with Part XV of the Securities and Futures Ordinance (SFO), any individual holding a 5 per cent interest or more in a listed company is regarded as a substantial shareholder and required to inform the market through the Stock Exchange within three business days of any transaction resulting in a change in his/her shareholding of a ratio that crosses a certain whole percentage number. Besides, directors and chief executives of a listed company must disclose their interests in accordance with Part XV of the Securities and Futures Ordinance (SFO). Investors can refer to Disclosure of Interests under the Shareholding Disclosures section on the HKEXnews website for the information.

How can the public interpret the disclosure information of substantial shareholders, directors or chief executives of a listed company?

HKEX operates electronic filing systems for the submission of completed disclosure of interests (DI) forms and publishes the disclosure information filed with it on the HKEXnews website in accordance with the requirements of the Securities and Futures Commission (SFC).

The SFC has published an outline of Part XV of the SFO, which gives extensive guidance on the situations in which a DI notice will have to be filed, and related matters. Please refer to the outline on the SFC website at www.sfc.hk under Rules and standards/Securities and Futures Ordinance Part XV - Disclosure of Interests. Investors may also refer to the directions and instructions on completion of each form which give detailed advice on completing each box on each form and many examples. The SFO is a statutory regulation implemented by the SFC and HKEX is not in the position to advise on the related requirements. Investors with further enquiries about individual disclosure filings should consult the relevant listed company or professional advisers.

How can investors obtain information about listed companies and their corporate communications?

Investors can access information about listed companies via the following channels:

The Latest Listed Company Information section on the HKEXnews website and the Latest Company Announcements section on the GEM website. They may also search for announcements or documents of listed companies from the Listed Company Information section on the HKEXnews website.
Websites of listed companies
News reports
Subscribe for information services from information vendors using the Issuer Information Feed, or IIS

Registered shareholders will receive corporate communications from listed companies, for example, financial statements and circulars to shareholders. They may select to receive corporate communications electronically while retaining the right to change their minds. They may also select to receive printed copies in both Chinese and English languages or in a single language. In addition, they may select to receive full annual reports or full interim reports; otherwise, only summary financial reports or summary interim reports (as the case may be) may be offered.

How can investors access listed companies’ previous announcements, in particular results announcements and announcements related to dividend distribution, from the HKEXnews website?

Investors who select Advanced Search under the Listed Company Information section on the HKEXnews website can find the date of a board meeting, results announcements and dividend distribution information by entering the stock code or stock name in Current Securities, choosing Announcements and Notices and Financial Information under the Headline Category.

Besides, investors may search previous announcements and the history of dividend distribution of a listed company from the Listed Company section on the Stock Connect. Investors can also find recent information from Board Meeting Notifications and Dividends & Other Entitlements under the Issuer-related Information section on the HKEXnews website.

According to the Listing Rules, a listed company shall inform HKEX and publish an announcement at least seven clear business days in advance of the date fixed for any board meeting at which the declaration, recommendation or payment of a dividend is expected to be decided or at which any announcement of the profits or losses for any year, half-year or other period is to be approved for publication.

When will the latest listed company information and announcements be published on the HKEXnews website?

Listed companies are required to publish their documents on the HKEXnews website via HKEX's e-submission system (ESS). The operational hours of the ESS are between 6:00 am and 11:00 pm every business day, and between
6:00 pm and 8:00 pm on a non-business day immediately preceding a business day. However, there are different publication windows for different types of documents to be published on the HKEXnews website. The arrangements are as follows:

Subject to certain limited types of announcements that can be published at all times during the operational hours of ESS (note), Announcements and Notices can be published during the following publication windows:
On a normal business day:
- 6:00 am to 8:30 am
- 12:00 noon to 12:30 pm
- 4:30 pm to 11:00 pm
  
  On the eves of Christmas, New Year and Lunar New Year when there is no afternoon session:
- 6:00 am to 8:30 am
- 12:30 pm to 11:00 pm
  
  On a non-business day preceding a business day:
- 6:00 pm to 8:00 pm
  
  (Note: These types of announcements include
- trading halt or suspension announcements;
- announcements that relate to a clarification of news reports or unusual price/turnover movements (classified as “standard” or “super”); and
- overseas regulatory announcements.)
Other types of listed companies' documents, such as circulars and annual reports, can be submitted during the operational hours of ESS and they will be published directly on the HKEX website.

Documents published by listed companies through HKEX's ESS are available at the Latest Listed Company Information section on the HKEXnews website and the Latest Company Announcements section on the GEM website.

How do investors apply to HKEX for the free news alert service providing listed company information?

Investors can register at the “News Alerts” section under the “MARKET DATA” of the HKEX website for HKEX's free news alert service, which provides listed company information. The news alert service will notify registered users by email of any announcements or disclosure of interests filings submitted by or relating to the Hong Kong-listed companies they choose.

The number of securities that can be selected for each account is 20. Alerts on listed company information are sent every 30 minutes from 6:30 am to 12 midnight on each trading day, whereas alerts on disclosure of interests notices are sent at 5:30 pm on trading days.

HKEX provides the email service free of charge, but users who wish to receive mobile phone text message alerts must check with their mobile phone service providers about text message service availability and possible fees. The Registration page on the HKEX website provides the list of mobile carriers that offer text message services.

How can Hong Kong investors obtain information from listed companies if they don't have computers or access to the Internet?

Hong Kong Investors without access to the Internet can obtain listed company information via the following:

Public libraries: all public libraries in Hong Kong provide free Internet access to library users;
HKEX’s Public Viewing Room at 1/F, One and Two Exchange Square in Central: the Public Viewing Room houses desktop computers with which investors can search and view issuers’ announcements, notices and other documents published on the HKEX website, and browse the SFC website. The area is open between 9:30 am and 5:00 pm on the trading days of HKEX’s securities and derivatives markets;
Reports by news media on listed companies’ announcements; and
Advisory services provided by securities brokerages: investors can always check with their brokers for the latest news from listed companies.

If the HKEX website fails or there is an Internet access problem, how can investors obtain information about listed companies to support their trading?

HKEX enhanced its website and related systems before the implementation of the Electronic Disclosure Project on 25 June 2007, and it has installed a back-up system and developed disaster recovery arrangements to ensure business continuity. Before implementation of the project, HKEX performed a series of tests and invited related parties (including listed companies, their agents and information vendors) to participate in the testing and familiarisation sessions.

If there is a double failure of the HKEX website and its back-up website systems, HKEX has made arrangements to disseminate information on listed company announcements on a third party’s website. HKEX will announce the website when necessary. Furthermore, listed companies are required under the Listing Rules to publish their announcements on their own websites, in addition to publishing them on the HKEXnews website. Therefore, investors can access listed companies’ latest announcements through the companies’ own websites if the HKEX website fails to provide service.

Moreover, various Internet service providers have been engaged to minimise any negative impact on the HKEX website of the sub-par performance of any single service provider, to ensure stable website service for the public.

In cases of widespread Internet access problems in Hong Kong, the impact would not only be limited to the dissemination of issuer information. Various aspects of market operations would also be affected. HKEX may then have to invoke contingency measures and inform market participants and the public of the arrangements through any available channels.

How can investors contact listed companies?

Investors wishing contact a listed company may refer to the share registrar for the address and contact details of a listed company.

The share registrar is a company employed by a listed company to maintain a registrar of its shareholders in Hong Kong, and handle transfers of physical shares and investors' enquiries, etc. Share registrars' services include dispatching corporate communications including financial reports and shareholders circulars on behalf of listed companies, to registered shareholders, distributing cash and scrip dividends, handling claims for uncollected benefits, share transfers and issuing replacement certificates.

The information of the share registrar of a listed company is available at the “List of Equities Securities” in “Equities” under the section headed “PRODUCTS” on the HKEX website. Investors may enter a stock code on the left hand side to narrow down the results and click onto the respective company name to obtain relevant information. Investors may also refer to the annual report of a listed company for the address or ask the telephone company for its telephone number.

The List of Equities Securities at the HKEX website also provides company information, including the name of the chairman and address of the principal office. Without a listed company's authorisation, HKEX cannot divulge the company's other contact details.

What is the Exchange’s policy on complaints?

We welcome feedback from investors as it contributes to the continuing improvement of our markets. Investors' submissions may alert us to breaches of our rules and regulations or practices which undermine investor confidence in our markets. However, there are issues which fall beyond our power and scope in regulating market participants and listed issuers. As a result, we cannot:

intervene or comment on commercial decisions of listed issuers;
compensate investors for their investment losses;
provide investment, legal or financial advice;
adjudicate commercial disputes; and
disclose confidential information obtained while performing the duty of the exchanges and clearing houses etc.

Furthermore, there are issues that are governed by the statutory regulator of the securities market, the Securities and Futures Commission (SFC) and are beyond our jurisdiction to follow up. These include matters relating to takeovers and acquisitions involving listed issuers, insider dealing, market manipulation and other issues governed by the statutes. The SFC is also responsible for matters relating to the financial resources and conduct of intermediaries including, Exchange Participants, as well as investigations and disciplinary matters concerning disputes between Exchange Participants and their clients.

What is News Alert?

News Alert is a free service offered by the HKEX website which notifies subscribers of updates to selected website contents and provides you email/mobile alerts on the latest listed company information and disclosure of interests notices, to which you have subscribed. You may subscribe for a maximum of 20 companies. Alerts on listed company information are sent from 6:30 am to 12 mid-night (Hong Kong time) every 30 minutes whereas alerts on disclosure of interests notices are sent at 5:30 pm (Hong Kong time) on each trading day.

How do I contact HKEX for News Alert issues

Users requiring additional information can send their questions to isc@hkex.com.hk.

Registration

How can I register for the News Alert?

You can simply go to the Registration page and fill out the registration form. Please note that some of the fields are mandatory and they must be completed before a successful registration can be made. Your first-time login password will be sent to your registered email address if the registration is successful.

Can I view information in Chinese?

Yes. Simply click the Chinese icon and information will be displayed in Chinese. If you want to receive email alerts in Chinese, please change your Preferred Language to Chinese under Profile Setting.

Can I change my stock choices after registration?

Yes. You can always go back to Listed Company News section to change your stock choices.

How can I change my password?

You can change your password under Change Password.

What can I do if I forget my login password?

You can get your password through email by entering your registered email address under Forgot your Password on login page.

I am sure that my login name and password are correct, but I still encountered login problems. What is the solution?

Please check your password by entering your registered email address under Forgot your Password (previous FAQ) and log in again. Also, please note login IDs and passwords are case sensitive.

I have already registered for the email alerts. Can I update my registration with a new email address?

Yes. You can change your email address under Profile Setting.

I am sure that I successfully registered for a user account, but I had trouble accessing my account the first time I logged in. What is the problem?

After successful registration, the system will send a random password to your registered email address for your first-time login. However, if the user does not log in within 30 days after registration, the system will delete the record without notifying the user. Please register again.

Will my user account be terminated if I do not use the service for a certain period of time?

Yes. In order to maintain a clean database, the system will send a reminder email to user accounts which have not been used for more than six months. If the user does not log in within seven days after the reminder is sent, the system will permanently delete the user account.

Will I be able to delete my user account if I choose not to use the service?

Yes. You can delete your profile permanently under Delete Profile.

Alert Functions

Will I be able to read the full text of issuer announcements in my SMS and email alerts?

No. The SMS and email alerts only display the title of the announcement.

I have not received any email alerts since I registered and I have checked and found that my email address was entered correctly. What is the problem?

Please make sure that the Alert boxes under your portfolio are checked for each of your selected stocks. Another possibility is that there have been no alerts for your selected stocks since your registered.

Will I be charged for SMS alerts?

Individual mobile telecom service providers may impose charges on their customers for receivingSMS messages. Please contact your service provider for details.

I have registered for SMS alerts, but I have not received any alerts. Why?

Please check whether SMS alerts are available through your mobile telecom service provider and whether your mobile phone can receive SMS alerts. In addition, make sure the SMS Alert box under Profile Setting is checked, or ticked.

Will I be able to add as many stocks as I like for the Alerts?

No. The maximum number of stocks for the Alerts is 20.

What can I do if I no longer want to receive Email/Mobile Alerts?

You can log in to your account and delete the checks, or ticks, from the Alert boxes under Profile Setting, or you can reply to the next Email Alert you recent with the wordUnsubscribe in the title.