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Trading Stocks in Hong Kong

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JasonLambo

PARKED
Sep 15, 2007
4
0
9
40
I had originally sent this message to my friend MJ, I will copy over our conversation here in hopes someone has an answer. Thanks!

Originally Posted by JasonLambo


Hey, hope all is well. I have a quick stock question, as I know you are a stock market guru. I was looking to invest in a company which had their IPO go live today on the Hong Kong stock exchange (symbol on HK exchange is 1688 or US ALBAF). I cannot use my AmeriTrade account to invest in this company, 40 day wait period from SEC, so my question is HOW can I invest in this company right now? I have accounts overseas, residences as well, only I am currently sitting in So Cal. so I have a situation.

Any help is much appreciated, thanks!
Jason


ChrisPeruna is the stock guru here as he trades full time. He might know the answer because I don't... in fact, I hope he does have an answer cuz I'd like to know!

Please post it!
 

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piranha526

Contributor
Aug 20, 2007
112
23
23
New Jersey
I had originally sent this message to my friend MJ, I will copy over our conversation here in hopes someone has an answer. Thanks!

Originally Posted by JasonLambo


Hey, hope all is well. I have a quick stock question, as I know you are a stock market guru. I was looking to invest in a company which had their IPO go live today on the Hong Kong stock exchange (symbol on HK exchange is 1688 or US ALBAF). I cannot use my AmeriTrade account to invest in this company, 40 day wait period from SEC, so my question is HOW can I invest in this company right now? I have accounts overseas, residences as well, only I am currently sitting in So Cal. so I have a situation.

Any help is much appreciated, thanks!
Jason

ChrisPeruna is the stock guru here as he trades full time. He might know the answer because I don't... in fact, I hope he does have an answer cuz I'd like to know!

Please post it!

Sorry guys, I don’t know because neither of my brokers allows it.
I trade the Chinese ADR’s (American Depository Receipts) in stocks such as PTR, EDU, JASO, etc…

You could also trade the ETF’s from foreign markets but that is all I do. I have never traded on a foreign market as I have never had the need to do so. I believe you need to open an account in Hong Kong.

Hopefully someone else can spell it out for you. There goes my guru status!
 

MrDoctor

New Contributor
Aug 13, 2007
76
8
12
Get on the phone, call some brokers, and see what they can go for you. Call Schwab and you might get lucky. There will always be a grace period for a new account in the US, but the best way to get into it now would be to find someone you trust who has the ability to trade on the Nikkei exchange, and persuade him into purchasing the IPO for you. If you can get your money transfered to a bank in HK, open an account with a broker over there (or even directly through the bank of broker, either or,) then you should be able to start trading within minutes.
 

JasonLambo

PARKED
Sep 15, 2007
4
0
9
40
ETrade has a global trading account that allegedly gives direct access to 6 markets (Hong Kong is one) and trades are conducted in the local currency. Don't know if this will bypass the 40 day wait but it sounds promising. Let us know what you find out.

Called them last night, it won't bypass the 40 day hold. The SEC will not allow ANY of the US based companies to trade a foreign stock for 40 days.

I've got instructions to open an account overseas today. We'll see how this works out...
 

Colbey

PARKED
Nov 7, 2007
6
0
8
London, England
I’m based in England and currently trade on the NYSE. Although I have no experience of trading on the HK exchange I would speculate it requires a similar process.

To trade on the NYSE I phoned various brokers in America and discussed it with them, when I found a broker that was willing to take an international client that I wanted to do business with he created a brokerage account for me. I wired some funds to the account and could then buy stocks/options. I had to fill out some paperwork and mail it as the original signatures were required. They also needed a photocopy of my passport. The whole process took around a week with the slowest part being transferring the funds.

It works rather well, I benefit from the exchange rate and pay taxes for my trades at the end of the financial year to England.
 

china

New Contributor
Sep 27, 2007
95
9
27
Los Angeles, CA
That must have been Alibaba. I saw it tripled the day of the IPO.

I invest in a Chinese company that is registered on the Nasdaq. It is majority owner of another company that is listed on the HK exchange but I don't believe there is anyway for me to own stock in the HK company other than by owning the Nasdaq listed company.

I asked on another thread if there was anyway to own stock in Shanghai but got no response... Does anyone know?
 

S928

Contributor
Aug 7, 2007
162
24
27
Does anyone know why Alibaba will initially open up in HK instead of the U.S. Granted it's a Chinese company, but it would've had sooo much more exposure if it had opened up in the U.S. Anyone know?
 

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