Reporting of short-selling to be enhanced

Legislation for reporting of securities short-selling will reportedly be introduced as soon as possible.

A Bloomberg report said, “Hong Kong’s Financial Services and the Treasury Bureau said it will work with the city’s regulator to introduce legislation ‘as soon as possible’ that will improve on the reporting of securities short-selling.”

Meanwhile the Securities and Futures Commission and the Hong Kong Monetary Authority will ensure effective implementation of existing rules, according to the report.

It said, “Short selling in Hong Kong climbed to the highest level in 12 years, with bets on declines reaching HK$12.8 billion ($1.6 billion) on September 30, or 14 percent of the total value traded on Hong Kong’s stock market, according to data compiled by the city’s exchange.”

View the report here.