HONG KONG Feb 14 Hong Kong Exchanges and Clearing Ltd (HKEx)
plans to offer after-hours futures trading from April 8 to allow
investors to hedge or adjust positions when news breaks in the European or U.S.
HKEx, which secured approval in December for its $2.2 billion takeover of
the London Metal Exchange, said on Thursday trading in futures for the Hang Seng
Index and Hang Seng China Enterprises Index would be available
from 0900 GMT to 1500 GMT (5 pm to 11 pm local time).
Gold futures will be considered for after-hours futures trading at a later
stage, the bourse said.
With Hong Kong becoming an offshore renminbi centre, after-hours futures
trading will enable the exchange to cater to international interest in yuan
products in the future. Also the move is a necessary step for the bourse to move
into asset classes traded on a global basis, including foreign exchange, it
HKEx, the world's No.2 exchange operator by market value, said in January it
would introduce Asian time-zone price discovery and clearing on the London Metal
Exchange (LME), in a move that could hold off competition from its Shanghai
It added it would also use the LME's status as the world's biggest metals
marketplace to extend HKEX's commodity platform into ferrous metals, such as
iron ore, coking coal and energy.