[Hong Kong SFC: Proposes Extending Securities Trading Hours, to Be Implemented First in the Derivatives Market] According to a report by Caixin, Hong Kong Securities and Futures Commission (SFC) CEO Julia Leung Fung-yee stated on October 9 at the Asia Securities Industry & Financial Markets Association (ASIFMA) conference that Hong Kong is studying the extension of securities trading hours, with the initiative to be implemented first in the derivatives market. Hong Kong Exchanges and Clearing (HKEX) will release a discussion paper in the fourth quarter regarding the extension of trading hours in the spot market. In addition, Hong Kong plans to shorten the settlement cycle to T+1, with HKEX expected to publish a consultation summary in the near term. Leung disclosed that the first phase of the narrower bid-ask spread initiative, launched a year ago, covered 300 stocks, resulting in a 38% reduction in bid-ask spreads and a 26% decrease in trade execution time. Preliminary results from the second phase indicate a roughly 30% reduction in spreads. She noted that the extension of trading hours will be accompanied by measures such as tokenized currency and digital Hong Kong dollar settlements.