Hong Kong Brokers Swamped by ‘Once In a Century’ Stock Frenzy
- Hang Seng Index has its best day in almost two years
- Market participants cancel holidays as frenzy picks up pace
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Stock brokers in Hong Kong are having one of the busiest periods in their career, with a 31-year veteran describing the city’s sudden rally as a “once in a century” event.
Edmund Hui, chief executive officer of one of Hong Kong’s biggest local brokerages, Bright Smart Securities, said his firm has experienced a “massive jump” in account openings. Many of his customer support staffers have canceled planned holidays, and are standing by 24 hours a day to handle the unprecedented surge in client inquiries.