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Hong Kong Reopens After National Day, Without Mainland Buyers Until Oct. 8

Trading resumes Friday, but the Stock Connect link with mainland China stays shut through China's Golden Week holiday.

By Global Terminal Staff · · 1 min read

The Hong Kong skyline at night seen from Victoria Peak
Photo: Henry Lai / Unsplash

Why it matters

  • Mainland investors buying through Stock Connect have become a big source of daily trading in Hong Kong.
  • Without them, trading may be thinner and more sensitive to overseas moves.
  • Hong Kong's chip-related shares may react to Micron's results for the first time.

Hong Kong's stock exchange reopens on Friday, Oct. 2, after closing Thursday for National Day, according to BBN Times. The Hang Seng Index last closed at 24,613.27 on Sept. 30, up about 0.37% on the day but down roughly 2.8% for September.

Mainland investors will be missing. Northbound and southbound trading through Stock Connect, the link between Hong Kong and the Shanghai and Shenzhen exchanges, is suspended from Oct. 1 to Oct. 7 and resumes Oct. 8, the report said. Mainland markets are closed for China's Golden Week holiday.

What Hong Kong missed

While Hong Kong was closed, Japan's Nikkei 225 jumped 3.3% on Micron Technology's results, and U.S. chip stocks also rose. Hong Kong-listed chip names could react on Friday. Our story on Micron has the details.

Hong Kong also reopens against higher global borrowing costs. The U.S. 10-year Treasury yield touched 5.34% on Thursday, its highest since 2002. Hong Kong's currency is pegged to the U.S. dollar, so local interest rates tend to follow U.S. rates.

Sources