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In 2005, Hong Kong ranked first in the world in terms of the number of deals in the world. According to the World Federation of Exchanges, from January to the end of October, the number of deals in Hong Kong reached 88.2 billion US dollars (about 688 billion Hong Kong dollars), which continues to be the first in the world, far higher than the second Italian market's 51.2 billion US dollars and the third German market's 47.8 billion US dollars.
The survey conducted by Hong Kong Stock Exchange (0388-HK) pointed out that foreign institutions were the main culprits in the speculation, and the proportion of local and foreign institutional investors increased from about 31% of the previous year to 36.3% of this year, which was reported in the past five years
However, the proportion of local and non local retail investors dropped from 31.4% in the previous year to 28.3% this year, which also shows that most speculation funds come from large investors rather than retail investors.
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