No need for market concern: FS

July 9, 2018

Financial Secretary Paul Chan has told investors not to be overly concerned about recent market fluctuation.


He made the statement after shares in Xiaomi, the first company under the weighted voting rights structure, fell below the issue price upon its listing today.


"Recently the stock market has been affected by the sentiments arising from the trade conflict between China and the US. This is still developing.


"It is hard to estimate at this stage the impact on the stock market. We will continue to monitor this process. In the meantime, I don't think we need to be over worried."


He added the most important thing is introducing a weighted voting rights structure, taking account of the overall social and economic changes and future trend.


"There are still quite a number of other companies in the pipeline seeking to be listed on the Stock Exchange."

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