Does anyone buy stocks in HK?
 

I am currently using HSBC Invest Direct but they charge up the ass in fees. Does anyone know any other websites that you can buy and sell stocks in Hong Kong that have minimal charge? Thanks :)

The cheapest way for me is to call my stock broker in HK, since I have a bank account in HK already. If you have one, you should look into it.

Unfortunately I dont. Im a Canadian citizen and although I go back to HK, I have never thought about opening up a bank account. And I am pretty sure I wouldnt be allowed too since I have no HKID or perm res or job there.

Btw, what do you invest it?

I currently have some money in:
ccb
icbc
belle
yurun
and Gome

i believe you can do it with interactivebrokers.ca

I tried reading that site and it was a bit confusing to be honest. Do you use it or know anyone who does? I just want to make sure that they can link my HSBC HKD acount without charging me up the ass like HSBC.

I use interactivebrokers.. In canada, Electronic fund transfer is in CANADIAN FUNDS so I use a canadian chequing account to transfer money in and out. or link a us chequing account but it has to be from a bank accross the border to use their Canadian equivalent ACH. otherwise linking a canadian-us account u have to transfer money by wiring($25+ fees) or mail in us drafts/cheques.
as far as i know, they can't link accounts like HSBC HKD.


but ye commission is way cheaper i guess for futures like hang seng or mini hangseng

u need 10,000$ USD or equivalent to start unless 21 or less then $3,000 min.

yeah, i don't wanna read that site either.

I don't trade hk stocks, but if i wanted to, i'd first have to BUY HKD from their forex with whatever's in ur account (probably CAD). Their last trade is 0.1267. Then start trading.

to open an account in HK...
u need to have proof that you actually live in HK
like the last 3 month's statement or your utility bill

service charge in HK is pretty expensive too... unless you have 200k+ in their accounts..
or else it is going to be something like 0.30% with a minimum charge..

the HSBC investdirect is probably the best one if you want to do HK stocks in Canada.
however, the HSBC Investment a/c in Hong Kong is one of the best I have seen..
a lot of other ones always have log on problems or time out.. or simply don't load.

The problem is, I can't open up an account in HK because I don't live in HK nor any resident.

I already have a HK dollar acount through HSBC CANADA. I have no links to anything or any accounts in actual HK, just a HK cash account here. I rather no exchange my Canadian currency to HK dollar then trade since I can get a very good exchange rate already.
Fuzzy~Panda, do they give you a decent exchange rate? If so, ill just use my HSBC canadian account. Is there any fees for transfering money or withdrawing? Or only on transactions?

Also, so if you are under 21, you only need $3,000 as oppose to $10,000 usd if you are 22 and above? Hmm. Is that even if I link my Canadian dollar account?

Yes they give exchange rate even better than VBCE, CustomHouse or any other retail currency exchange centre. There are no fees for transferring if transferring by EFT method thru your canadian account. But when transferring in and out it must be in canadian $ due to canadian banking restrictions.

21 or under 3,000, 22 or above 10,000.
You have to send them a void cheque to satisfy the money laundering condition and add that account as the primary account. The name that appears on the cheque has to match the application.

Just like banking system in Canada, they don't care who deposits in your $$$. But withdrawing requires that it be the account on file.

Commision
Hong Kong
0.088% of trade value
Minimum Order
HKD 18
Example: 400 shares@ HKD 70 Share Price= HKD 24.64

Way cheaper than HSBC... But customer service is a joke.. so if you're new to their platform and stuff just because they primarily cater to experienced traders.
I would say the cheaper commissions offset the minimal foreign exchange loss.

Ok thanks for the information, I will look into it. How long have you been using them so far? Any complaints or just smooth things so far?

Also, what companies do you invest in?

I have been using them for 1.5 years.
No, i don't invest. I daytrade/swingtrade.
The chinese market was at its peak from 2007 August to November. Back then i traded 0857.hk, 2600.hk, 0883.hk, 1055.hk

Now i just trade futures HSI & ER2 and sometimes invest in stocks if its underpriced

Ouch, markets took a big hit. I think once under 23000 it will be a good time to buy.

damn... 1000 down last night!! =S

You buy too TRDood?

Im thinking of picking up 3968 when it hits 25 and also 0941 when it hits 105. What about you guys? come on, more discussion!

it's been a sad week. no signs of rebounding AT ALL

i have 267 and 66, keeping for 2-3 months or so..
and i just got 3337 just to get into something oil related

i just started, so i am still learning and testing the waters

What did you buy 0066 MTR at? Im thinking of picking up if it hits 23

i hope it never hits 23 =(

27.xx

I think 0493 Gome will be good. They posted amazing profits and their stock just had a split. But right now they are under investigation for tax evasion so it will drop. If you can pick it up I believe it will go back up top after the investigation is over.

Also 3968 China Merchant Bank if it goes bellow 23.

Damn another day in the red. I hope it goes down to 21,000 at least so I can start buying somethings.

it's rebounding back up, but mainland index is going up and down like crazy everyday! 5%

I think 493 Gome is good to buy right now. I have a bid on it for 3.80. It's up to you, they just posted their Q1 profits which were tripple. And im still very interested in CM bank. what about you?

You do all your trades overseas at HSBC right?

Wow, in the low 21000 and still dropping. I just keep buying more and more everytime it drops :(

Short term losses will be made up with long term gains.

ouch, watch out for that falling knife :)

And WTF happened to coal today?