Hong Kong Exchanges and Clearing Limited (HKEx) provides the following information about today’s (Monday) Closing Auction Session (CAS) in response to media enquiries.

HKEx noted the price of HSBC shares continued to fall during the CAS following significant drop already taken place during the Continuous Trading Session today. 

Trading turnover of the securities market in the CAS totaled $1.25 billion, representing approximately 3.5 per cent of the total trading turnover today.   HSBC Holdings (5) was the most actively traded security during the CAS.  The turnover of HSBC shares amounted to $391.54 million, or 8.3 per cent of the security’s trading turnover for the day.   The price of the security fell from the closing price of last Friday of $43.5 to $37.7 at the end of the Continuous Trading Session today, representing a drop of 13.3 per cent, and continued to fall to close at $33 at the end of CAS, representing a drop of another 12.5 per cent.  The closing price of the security fell for a total of 24.1 per cent from the closing price of the previous trading day.

In a joint statement last Thursday, HKEx, together with the Securities and Futures Commission (SFC) reminded Exchange Participants and investors of possible increases in trading activities and unusual price movements during the Continuous Trading Session and around the market close during major corporate events and index rebalancing events.  HKEx and the SFC also reminded Exchange Participants of their responsibilities.

HKEx continues to monitor the market activity closely and will report any irregularities it may observe to the SFC.