Hong Kong Stock Exchange Plans to Implement T+1 Settlement in the Second Half of 2028

The Hong Kong Stock Exchange has released a consultation summary document indicating broad market support for shortening the stock spot market settlement cycle to T+1. The Hong Kong Stock Exchange intends to complete the relevant transition in the second half of 2028, pending market readiness and regulatory approval. A total of 109 unique responses were received during the consultation, involving stakeholders such as brokers, custodians, investment managers, industry associations, technology providers, and investors. Respondents generally agreed on adopting the T+1 settlement cycle, believing that this move will enhance market efficiency, reduce settlement risks, improve capital efficiency, and strengthen Hong Kong's competitiveness as an international financial center.

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