HSBC has launched a new range of single stock callable bull/bear contracts (CBBC) on some of the most popular Hong Kong stocks. The selections have been introduced to boost product diversity and meet anticipated customer demand in the listed product market.
HSBC has commenced with 10 single stock CBBC, including China Petroleum & Chemical Corporation (0386.HK), Hong Kong Exchanges and Clearing Ltd (0388.HK), China Construction Bank Corporation (0939.HK), China Mobile Ltd (0941.HK) and China Life Insurance Company Ltd (2628.HK). The five bull contracts and five bear contracts are now listed on The Stock Exchange of Hong Kong.
The CBBC market in Hong Kong has grown steadily since its launch in 2006. At the end of April 2009, there were over 1,500 CBBC available in the market, compared to seven at the launch in June 2006. There was a steady increase in turnover of single stock CBBC amid the deterioration of market sentiment in 2008.
“The development of the Hong Kong-listed product market is significant,” says Ken Sue, managing director and head of wealth management sales, Asia-Pacific, HSBC Global Markets. “Its daily turnover accounts for approximately 20 to 25 per cent of total market turnover. As one of the top market players, HSBC aims to offer various products to satisfy different investment needs of our customers.”
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