New Riyadh Office Puts HKEX At The Heart Of Middle East Markets
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Hong Kong Exchanges and Clearing Limited (HKEX) said it will open a new office in Riyadh, Saudi Arabia, in 2025. According to the company, this move will help HKEX build stronger links with the Middle East and improve connections between China and the Gulf region.
Being in Saudi Arabia’s major economic area, this new office will allow HKEX to reach out to investors and businesses in one of the world’s most active economic centers. It will offer direct support for these groups, helping them access Hong Kong’s wide range of financial services and benefit from trends shaping growth in Asia.
In 2022, HKEX Opened An Office In New York City To Expand Globally
This plan comes after HKEX’s recent projects in the Middle East, like its alliance with the Saudi Tadawul Group and the launch of a Saudi-focused Exchange-Traded Fund (ETF) in Hong Kong last year.
Bonnie Y Chan, HKEX’s Chief Executive Officer noted that as the investment links between the Middle East and Asia get stronger, Hong Kong and HKEX play an important role in connecting opportunities and capital between these regions.
In 2022, HKEX opened a new office in New York City to help its global clients and expand the company’s reach worldwide, according to reports. The New York office connects trading markets in the United States and Hong Kong, supporting partnerships between US clients and Mainland China’s market. The main goal is to boost HKEX’s stock markets for both new and ongoing trades.
HKEX has also added the Saudi Exchange, Dubai Financial Market, and Abu Dhabi Securities Exchange to its list of Recognised Stock Exchanges. This allows Middle Eastern companies to consider listing their stocks in Hong Kong.
Chan added that with the offices in Beijing, Singapore, Shanghai, London, and New York, this new Riyadh office will help the firm reach more clients globally. It will also give Middle East customers access to Asia’s top capital markets in Hong Kong.
HKEX Aims To Connect Capital With Real Opportunities In The Middle East And Asia
The company’s choice to set up in Riyadh is part of a wider plan it has been building in recent years. Chan noted that the exchange began connecting with Saudi Arabia and the Gulf region several years ago, leading to important steps in growing mutual business links.
HKEX has been strong as a financial exchange, recently hitting record-high trading levels due to busy market action. In the first half of this year, the firm’s daily trading average was about 106 billion HKD, close to $13 billion.
Looking forward, Chan believes HKEX’s growth in Saudi Arabia will encourage a flow of investment both ways, helping both regions. She said as the firm grows in the region and as investors learn more about its market, the team can bring together capital with real opportunities available in the area.
