Wednesday, February 29, 2012

HK stock exchange brokers rally against cuts in lunch break

HONG KONG (Dow Jones) - Hong Kong stockbrokers protested on Tuesday in a last desperate attempt to stop, to the city stock market operator by trimming the lunch break of 90 minutes to an hour.

Wave-cut figures of the market leader and its chairman, about 150 protesters walked through the Central Business District in the stock market and the seat of government.

Hong Kong Exchanges and Clearing Ltd., the financial center of south China's stock market operates, plans to reduce the fraction to an hour on Monday. It is the second step of a plan that began last year by trimming one hour from the 2 1/2 hour trading pause.

The amendment will increase to increased competitiveness, directed trading hours in line with rival exchanges in Asia and the West. But protesters, most of whom were from Hong Kong's many small brokerage firms, they did not complain enough time with clients to discuss research stocks or IPOs to attend lectures.

The broker tries to be the popular notion that they spend their time drinking, smoking cigars and fine wines during the long leisurely lunch to disperse in elegant restaurants.

"I actually bring in my lunch box," said Danny Lam, an account executive at Kingston Securities. "Our lunch break can be very stressful as well. We have to rush still."

Playing the stock market is a popular pastime in the freewheeling, capitalist Hong Kong avowedly. Many of the town of 500 registered brokers are small businesses that serve individual investors, often from storefront offices, where clients, mostly older people who like to spend time trading.

Ditulis Oleh : Tris P // 12:53 AM
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