“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:
World’s first fleet of marine drones being tested in the Mediterranean
Google warns that govt is demanding more of your private data than ever
Japan’s Pension Fund Cutting Local Bonds to Buy Equities
Ron Paul: Secession Is 'Very American'
Army Vet: Police Raided Wrong Apartment, Found No Drugs, Killed His Dog
Philadelphia applies retroactive lap dance tax at gentlemen's clubs
Hollywood filmmakers engage in ‘artistic surrender’ to keep markets in China open
Kwame Kilpatrick guilty: For destitute Detroit, downfall of ex-mayor complete
Senator Feinstein: U.S. authorities are vigorously pursuing Edward Snowden
How Venezuelan Used ‘Scrape’ to Make Six Times Her Salary
Senator: Contractor that vetted Snowden is under investigation
How the US sent $12bn in cash to Iraq. And watched it vanish [2007]
Syrian rebels receive UK funding, but no weapons
China Tells Banks to Improve Disclosures in Shadow-Lending Fight
401(k) millionaires are bragging and posting their balances to social media