Hong Kong is one of the world s top five international financial centres, but this is mainly due to banking activity in the territory. The stock exchange is relatively poorly developed, ranking only tenth by market capitalisation in 2002. In common with emerging stock markets in Asia and elsewhere, the Hong Kong exchange tended to be used as a speculative outlet for both small and large investors, which led to wide fluctuations in prices. This article explores how the development of the exchanges in the 1960s and 1970s, and the combination of self-regulation and poor external supervision contributed to weaknesses in the stock market in Hong Kong.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.