Original title: The Hong Kong Stock Exchange launches A-share index futures, and mainland stock index futures are open to the outside world. Source: Commodity Trading Advisors
The Hong Kong Stock Exchange announced on August 20 that it would launch futures contracts based on the MSCI China A50 Connectivity Index on October 18. The Securities Regulatory Commission expressed support for Hong Kong’s plan to launch A-share index futures on the same day.
Industry insiders interviewed by a reporter from the China Securities Journal said that the launch of A50 stock index futures in Hong Kong will enhance the attractiveness of the A-share market to foreign investors. The next step is to deepen cross-border supervision and coordination to maintain the smooth and orderly operation of the two markets. At the same time, actively and steadily promote the opening of mainland stock index futures products to further promote the coordinated development of the onshore and offshore stock index futures markets.
Will enhance the attractiveness of A shares to foreign investors
Judging from the general experience of the development of stock index futures in overseas markets, stock index futures are of positive significance for price discovery and risk management in the stock spot market.
Regarding the MSCI China A50 Index futures to be launched in Hong Kong, industry insiders said that this will make it easier for international investors to manage their portfolio risks, improve the tradability of the A-share market, and further enhance the willingness of foreign investors to participate in the A-share market. The stickiness of the stock market to foreign capital. In the long run, the internationalization of the A-share derivatives market will also create more favorable conditions for the internationalization of the RMB.
Deepen regulatory coordination to maintain market stability
Market participants said that stock index futures are risk management tools with two-way trading functions. Based on macro, market and technical analysis, investors can choose to go long or short.
“What needs to be strictly prevented is the use of stock index futures to manipulate the market and affect the stable operation of the market. The Hong Kong Securities Regulatory Commission has relatively rich experience in derivatives supervision, and the Hong Kong derivatives market has also established a relatively mature risk prevention mechanism. , The securities regulatory commissions of the two places have also established derivatives supervision cooperation and cross-border risk prevention and control arrangements, which I believe can effectively maintain the smooth and healthy operation of the markets in the two places.” The above-mentioned person analyzed.
Mainland stock index futures can be opened to the outside world
Many industry insiders interviewed by a reporter from China Securities News pointed out that under the background that my country’s capital account has not yet been fully opened, offshore stock index futures have limited impact on the A-share market. The trend of stock index futures ultimately depends on and reflects investors’ macro Basic judgments of economic and corporate fundamentals. At present, China has achieved strategic results in the prevention and control of the epidemic, the economy is basically stable and improving, and the healthy development of the A-share spot and futures markets has a solid foundation.
“From the perspective of steadily advancing the opening up of the capital market, it is recommended to actively and steadily promote the opening of mainland stock index futures products to further promote the complementary and coordinated development of the onshore and offshore stock index futures markets.” The above-mentioned person said.
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