Trading Hong Kong Stocks

[krishiyer]

Quote from Copernicus:

can a US Citizen open an account with them?

You can be any country citizen but if you hold a HK ID ( permanent or temporary resident ,it is much easier).
I am not sure HK brokerages allow non HK ID holders to open securities trading a/c over internet. But if you go there, sure you can open a/c with your passport & overseas address & send wire.

I have traded with reputed HK brokers like
Sun Hung Kai securities
Hang Seng Bank securities
Dah Sing Bank securities.
DBS Vickers Online (Singapore,HK,Taiwan stocks)
The commision used to be high those days. (0.18-.25!!!!!!)
Internet platform medicore & no charting.

Stick with IB if they offer HK stocks.If you are a serious chartist, subscribe to some serious chart service that offer HK data too.

Nowadays I trade only asian ADR's at IB.

 

[Cygnus Atratus]

Quote from krishiyer:

You can be any country citizen but if you hold a HK ID ( permanent or temporary resident ,it is much easier).
I am not sure HK brokerages allow non HK ID holders to open securities trading a/c over internet. .

Actually they will allow you to open accounts. I use www.boom.com opened in 2005, just need to send certified copy of passport, two original proofs of ID and residential address, and wire account opening money and you can trade immediately. Not to mention the young sweet voiced female brokers they have Do not forget to keep your eyes on www.irasia.com

 

[Steve_IB]

To the OP:

IB now includes Hong Kong stocks in the market scanner - select Asian stocks. (Trading Commission is 0.088%)

 

[mokwit]

Great stuff Steve. My thanks to all at the broker that dares to differ.

One suggestion, due to huge range in prices of HK stocks maybe the volume filter should be in Currency i.e Close*Vol as well as just volume as 1m 0001 shares is very different from 1m 0292 shares. You really need OTC type filters eg $block size not just Block vol etc etc.

Please also can you add the filter 'Hot contracts by volume' i.e relative to historical average as this will be especially useful for this market - probably the most useful IMHO

 

[krishiyer]

Quote from Cygnus Atratus:

I use www.boom.com opened in 2005, jwww.irasia.com [/B]

Cygnus Atratus
just out of curiorisity, what is the commision structure right now at Boom & IR Asia?
At that time,Yes Boom was truly internet type compared to the main street brokers i used before.
Last broker I used for pan asian stocks was DBS vickers (subsdiary of DBS Bank ,Singapore),commision was too high.(0.18-if you trade over S$100k equivalent)
Difficult to go back to browser based platforms after getting used to IB platform!

 

[Cygnus Atratus]

Quote from krishiyer:

Cygnus Atratus
just out of curiorisity, what is the commision structure right now at Boom & IR Asia?
At that time,Yes Boom was truly internet type compared to the main street brokers i used before.
Last broker I used for pan asian stocks was DBS vickers (subsdiary of DBS Bank ,Singapore),commision was too high.(0.18-if you trade over S$100k equivalent)
Difficult to go back to browser based platforms after getting used to IB platform!

http://baby.boom.com.hk/aboutus/services/charges/StockTrading.html

Yes far too much !!!

I use irasia.com for keeping a clear eye on things, kinda like bloomberg.com but without the buzz...
But given the young sweet ladies l talk to, its worth every penny !

 

[jrkob]

I've had an account with Core Pacific Yamaichi for 10 years, and super happy with them.

http://www.cpy.com.hk/index_en.htm

You can open an account as a non-resident, contact me by PM if you want the contact details of the lady who takes care of me there.

I also had an account with Phillip Securities (POEMS, weblink given above), very satisfied although they do stocks pretty much exclusively. Their Futures web interface is quite good and fast.

Sun Hung Kai is also very reputable in the area, although I haven't tried them.

 

[Copernicus]

Quote from Steve_IB:

To the OP:

IB now includes Hong Kong stocks in the market scanner - select Asian stocks. (Trading Commission is 0.088%)

Steve, whats up with cash equities in Australia,Singapore,Korea,Taiwan? The way things are going E-trade is going to beat you to it

 

[Copernicus]

Quote from Cygnus Atratus:

Actually they will allow you to open accounts. I use www.boom.com opened in 2005, just need to send certified copy of passport, two original proofs of ID and residential address, and wire account opening money and you can trade immediately. Not to mention the young sweet voiced female brokers they have Do not forget to keep your eyes on www.irasia.com

do you get taxed twice HK and US?

 

[krishiyer]

Quote from Copernicus:

do you get taxed twice HK and US?

If I memory is right ,there is no capital gains tax in Hong Kong & Singapore for securities transactions.

I remember yamaichi going bankrupt & being taken over by Core Pacific is also one of the reputable players.
Also Philips securities which I have used long back for trading commodities also is ok.
As for as nice sweet ladies goes- I prefer to fish it out in "flesh" after 1 AM at Wanchai /TST disco's!!! LOL!!
For securities trading I prefer the most cost efficient.
For banking - I do have nice sweet ladies to talk to by being a priority banking customer at DBS/UOB etc