BEIJING, May 9 (Xinhua) -- Hong Kong Exchanges and Clearing Limited (HKEX) on Wednesday announced plans to introduce weekly single stock options for 10 Hong Kong-listed equities by the end of 2024, reported Xinhua Finance on May 8.
HKEX took the move as the latest derivatives market enhancement that will give investors even more choice to manage risks and execute trading strategies and said the formal debut of these weekly products is subject to market readiness and regulatory approval.
As HKEX's announcement tells, such weekly single stock options can be be used to manage positions in response to short-term or specific events such as corporate results and with their shorter time to maturity, they have relatively low option premiums.
Brian Roberts, HKEX head of equities product development, said that HKEX is delighted to be introducing weekly stock options in its growing product ecosystem and the new additions will add to the attractiveness and diversity of its derivatives market and further support investors' risk management needs.
According to HKEX, the 10 underlying stocks for the weekly single stock options include HSBC Holdings Plc. (00005.HK), HKEX (00388.HK), Tencent Holdings Limited (00700.HK), Kuaishou Technology (01024.HK), BYD Company Limited (01211.HK), Ping An Insurance (Group) Company of China, Ltd. (02318.HK), Meituan (03690.HK), JD.com, Inc. (09618.HK), Baidu, Inc. (09888.HK) and Alibaba Group Holding Ltd. (09988.HK).
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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