We foresee that the liquidity and activities during AHFT might be lower than that in the day time. However, as the AHFT proposal received strong support from Futures EPs which accounted for 80% of market share in HSI and HHI futures in H1, 2011, HKEx believes that many Futures EPs and investors will participate in AHFT and they will monitor the market prices during AHFT for trading or hedging opportunities. This trading participation should help in guarding against market manipulation. In the event that there are any abnormal price deviations, these market participants will consider these as profit opportunities and trade to counter the price deviation.
During the review period (8 April 2013 to 7 October 2013), trading was orderly in T+1 Session and no excessive price movements were observed, the maximum movement of AHFT prices compared to the close of T Session close did not exceed 2.3%.