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New HK commodity exchange to give Asia bigger role

New HK commodity exchange to give Asia bigger role

A new commodity exchange has begun its first day of trading in Hong Kong as the Asian city attempts to challenge established markets in Europe and the U.S.
Trading began at 8 a.m. Wednesday on the Hong Kong Mercantile Exchange. So far the only product available to trade is a gold futures contract for 1 kilogram of gold.
But there are plans for other products covering precious and base metals, agriculture, energy and commodity indexes.
Exchange officials say that Asian countries have been driving demand for global commodity prices and the new exchange is aimed at helping the region have a bigger say in setting prices.


Updated : 2021-07-28 18:36 GMT+08:00