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When the Hong Kong stock exchange listed a Chinese tech index the other day I realised Hong Kong had completely fallen. The CCP rules Hong Kong in totality now

When the Hong Kong stock exchange listed a Chinese tech index the other day I realised Hong Kong had completely fallen. The CCP rules Hong Kong in totality now as far as I'm concerned.

rootsudo 6y ago
Great observation, I didn't even notice. Hang Seng Index, https://www.cnbc.com/2020/07/28/asia-markets-hong-kongs-new-tech-index.html https://www.cnbc.com/2020/07/28/asia-markets-hong-kongs-new-... Wow.
- yorwba 6y ago
  The Hang Seng Index isn't new. The Hang Seng Tech Index is, but I don't think it contains any companies not part of the broader Hang Seng Index. I have no idea how that is supposed to demonstrate the power of the CCP.
  - contingencies 6y ago
    The Hong Kong Stock Exchange has been promoting tech listings for years. Recently they have a range of policies such as easier routes to listing for tech companies than for traditional firms. I would not consider a tech index an artifact of Beijing influence, which has its own domestic tech stocks in Shanghai, Shenzhen, etc.
- rkapsoro 6y ago
  Hang Seng itself is an HK company, has been ever since its inception. HSBC has owned a large part of it for a long time, too. https://en.wikipedia.org/wiki/Hang_Seng_Bank https://en.wikipedia.org/wiki/Hang_Seng_Bank
  - deleted 6y ago
    [deleted]
robjan 6y ago
Mainland Chinese stocks have been listed on HKEX and even been components of the Hang Seng Index (kind of like our SP500) for a long time. The main reason that there aren't more HK stocks in the tech index is that there aren't really any HK based tech companies listed on our exchange.
- yomly 6y ago
  ...are there any HK tech companies? Slightly facetious but HK really dropped the ball in not chasing tech IMO
  - caycep 6y ago
    well, there are small start ups and engineering firms, back when things were considered "open" and the taxes were fairly low...a lot were doing under the radar type stuff and using the HK-Shenzhen connection to get rapid prototyping done and so forth. I know of a few companies doing LCD panels for stadiums, a few fabless chip design firms going for embedded markets, etc. But no "unicorns" in the American sense.
ponker 6y ago
This was always an inevitability. China could ostensibly take territory from any of its neighbors except Russia. The idea that a small island would be able to stay independent was temporary.
- op03 6y ago
  Nothing is obvious in geopolitics. See US-Cuba, India-Sri Lanka-LTTE, Iraq-Kuwait etc. Being larger just means you can make risky moves. But those moves can blow up in spectacular unpredictable ways.
- cambalache 6y ago
  What "small island" ? I think you are confusing Hong Kong with Taiwan.
  - ponker 6y ago
    yep I was. China will also take Taiwan when they feel like it, Crimea-style.
    - wendyshu 6y ago
      I bet (money) they won't.
      - ponker 6y ago
        then it will because they don't feel like it, the same way that the US does not really want to take over Canada.
- paulcarroty 6y ago
  Just checked his comments - 99% of Chinese propaganda, don't feed the troll.
  - luckylion 6y ago
    This is a lie, as anyone looking at the comments of the parent can clearly see. Please stop doing this kind of stuff.
divbzero 6y ago
HK may be falling, but the listing of Chinese equities has been around for awhile and probably unrelated. H shares [1] are established enough as an asset class that there’s even an AH Premium Index [2] for price differences between listings in Shanghai vs. Hong Kong. [1]: https://en.wikipedia.org/wiki/H_share https://en.wikipedia.org/wiki/H_share [2]: https://markets.ft.com/data/indices/tearsheet/summary?s=HSCAHPI:HKG https://markets.ft.com/data/indices/tearsheet/summary?s=HSCA...
Johnjonjoan 6y ago
As most of the counterarguments make the same point I will make a blanket reply: China among other nations have been playing a game for a while. I call it "can we get away with it" (all states play this game to some extent). This listing of Chinese tech companies that are taking a hammering from Western policy as China becomes near peer (this is just the start) isn't subtle enough to be part of this game IMO. To me this listing was a statement - they are fully aware it's going to make the West double down on ending any outstanding preferential treatment. What they are saying is: "we don't care if we can get away with it. It's ours.".
koheripbal 6y ago
Internally, they sold the operation to the public as "restoring law and order" to Hong Kong and endlessly showed videos of protesters attacking police officers.

When the Hong Kong stock exchange listed a Chinese tech index the other day I realised Hong Kong had completely fallen. The CCP rules Hong Kong in totality now as far as I'm concerned.

rootsudo 6y ago

Great observation, I didn't even notice. Hang Seng Index, https://www.cnbc.com/2020/07/28/asia-markets-hong-kongs-new-tech-index.html https://www.cnbc.com/2020/07/28/asia-markets-hong-kongs-new-... Wow.

yorwba 6y ago
The Hang Seng Index isn't new. The Hang Seng Tech Index is, but I don't think it contains any companies not part of the broader Hang Seng Index. I have no idea how that is supposed to demonstrate the power of the CCP.
- contingencies 6y ago
  The Hong Kong Stock Exchange has been promoting tech listings for years. Recently they have a range of policies such as easier routes to listing for tech companies than for traditional firms. I would not consider a tech index an artifact of Beijing influence, which has its own domestic tech stocks in Shanghai, Shenzhen, etc.
rkapsoro 6y ago
Hang Seng itself is an HK company, has been ever since its inception. HSBC has owned a large part of it for a long time, too. https://en.wikipedia.org/wiki/Hang_Seng_Bank https://en.wikipedia.org/wiki/Hang_Seng_Bank
- deleted 6y ago
  [deleted]

robjan 6y ago

Mainland Chinese stocks have been listed on HKEX and even been components of the Hang Seng Index (kind of like our SP500) for a long time. The main reason that there aren't more HK stocks in the tech index is that there aren't really any HK based tech companies listed on our exchange.

yomly 6y ago
...are there any HK tech companies? Slightly facetious but HK really dropped the ball in not chasing tech IMO
- caycep 6y ago
  well, there are small start ups and engineering firms, back when things were considered "open" and the taxes were fairly low...a lot were doing under the radar type stuff and using the HK-Shenzhen connection to get rapid prototyping done and so forth. I know of a few companies doing LCD panels for stadiums, a few fabless chip design firms going for embedded markets, etc. But no "unicorns" in the American sense.

ponker 6y ago

This was always an inevitability. China could ostensibly take territory from any of its neighbors except Russia. The idea that a small island would be able to stay independent was temporary.

op03 6y ago
Nothing is obvious in geopolitics. See US-Cuba, India-Sri Lanka-LTTE, Iraq-Kuwait etc. Being larger just means you can make risky moves. But those moves can blow up in spectacular unpredictable ways.
cambalache 6y ago
What "small island" ? I think you are confusing Hong Kong with Taiwan.
- ponker 6y ago
  yep I was. China will also take Taiwan when they feel like it, Crimea-style.
  - wendyshu 6y ago
    I bet (money) they won't.
    - ponker 6y ago
      then it will because they don't feel like it, the same way that the US does not really want to take over Canada.
paulcarroty 6y ago
Just checked his comments - 99% of Chinese propaganda, don't feed the troll.
- luckylion 6y ago
  This is a lie, as anyone looking at the comments of the parent can clearly see. Please stop doing this kind of stuff.

divbzero 6y ago

HK may be falling, but the listing of Chinese equities has been around for awhile and probably unrelated. H shares [1] are established enough as an asset class that there’s even an AH Premium Index [2] for price differences between listings in Shanghai vs. Hong Kong. [1]: https://en.wikipedia.org/wiki/H_share https://en.wikipedia.org/wiki/H_share [2]: https://markets.ft.com/data/indices/tearsheet/summary?s=HSCAHPI:HKG https://markets.ft.com/data/indices/tearsheet/summary?s=HSCA...

Johnjonjoan 6y ago

As most of the counterarguments make the same point I will make a blanket reply: China among other nations have been playing a game for a while. I call it "can we get away with it" (all states play this game to some extent). This listing of Chinese tech companies that are taking a hammering from Western policy as China becomes near peer (this is just the start) isn't subtle enough to be part of this game IMO. To me this listing was a statement - they are fully aware it's going to make the West double down on ending any outstanding preferential treatment. What they are saying is: "we don't care if we can get away with it. It's ours.".

koheripbal 6y ago

Internally, they sold the operation to the public as "restoring law and order" to Hong Kong and endlessly showed videos of protesters attacking police officers.