Ho Sin Hang, head chairman of the Hang Seng Bank, conceived the thought of creating the Hang Seng Index as a "Dow Jones Index for Hong Kong" .all along with Hang Seng Director Lee Quo-Wei; he specially made Hang Seng’s head of Research Stanley Kwan to generate the index, which debuted on November 24, 1969. HSI was started on November 24, 1969, and is at present compiled and maintained by Hang Seng Index’s Company Limited, which is an entirely owned subsidiary of Hang Seng Bank, one of the prime banks registered and scheduled in Hong Kong in terms of market capitalization. It is responsible for compiling, publishing and running the Hang Seng Index and a series of other stock indexes, such as Hang Seng China Enterprises Index, , Hang Seng Composite Index sequence, Hang Seng China A Industry Top Index, Hang Seng Corporate Sustainability Index Series and Hang Seng Total Return Index Series. Hang Seng in turn, in spite of being a public company, is held in bulk by British monetary firm HSBC.
Negative impact of Brexit on stock markets all over the world
For Britain, the fiscal effects are two sided. On one hand, Mojor Jolt has been delivered to self-assurance, to future unison and down the road to trade. On the other, the currency has become more competitive and liquidity can be in very abundant supply. Stock markets in Italy and Spain are downward almost double as much as in the UK. There is an actual threat of “populist exit contagion” in a number of countries. Unlike in Britain, the trade-weighted swap rate is unlikely to turn down very much. Brexit will rightly be taken as a signal that the political hold up for global integration is the best waning and at worst collapsing
Hang Seng started to recover while Nikkel has slided.
The Dow Jones Industrial average crossed up to 222 points and European shares claimed to a three-week high. Rising market equities snapped a seven-day slide. Nikkel led a bounce back in the commodity index and Asian shares looked set to expand the recovery, Nikkei 225 Stock Average futures climbed 1.2 percent in Osaka, even as contracts on Hong Kong’s Hang Seng China Enterprises Index were up and about 0.3 percent.
Stock ticker shows the positive incline on the stocks
Stock ticker running report of the prices and trading amount of securities traded on the various stock exchanges gave the positive incline on stocks. HSBC, the London-based lender with a second highest weighting in the Hang Seng Index gained 0.9 percent, trimming its loss since the Brexit decide to 6.8 percent. Standard charted Plc rose 0.7 percent and CK Hutchison advanced 2.1 percent, also paring their individual declines after the UK referendum as both rose for the second day. Ticker tapes and LED ticker have been positively responded to stocks.