“Fees have dropped since bourse operator Hong Kong Exchanges & Clearing Ltd. in 2003 removed a brokerage commission floor of 0.25 percent of the value of transactions, squeezing profits for brokers as mainland Chinese rivals expand operations. Eleven brokerages have ceased trading this year, according to filings posted on the website of the Hong Kong stock exchange. The number of local broking firms may decline to 300 from about 400 in the next five years, Mofiz Chan, a spokesman of the Hong Kong Securities & Futures Professionals Association, said. ‘There are many people taking part-time jobs or completely moving out of the industry,” Chan said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Questions remain in Chinese earthquake that killed more than 80,000
A Rich Fantasy Life: Sports Fans Dream of Making a Living Off Games
Fed’s latest stimulus may have little impact on mortgage borrowers
Mass rally in Venice to call for independence from Italy
No Banker Left Behind
Obama, in eighth year at war, dropped 26,171 bombs in 2016
NSA surveillance: don't underestimate the extraordinary power of metadata
Female inmates sterilized in California prisons without approval
Warren Buffett plans $2 billion a year Australian spending spree
France adds Jersey, Bermuda to tax-haven blacklist
Middle East oil companies targeted in cyber war
Google rejects French order on global 'right to be forgotten'
The Soviet Colonel Who Averted Nuclear War
Romain Hatchuel: The Coming Global Wealth Tax
High School To Collect Students’ Hair For Mandatory Drug Testing