Industry optimistic over HKEx closing auction

Buy-side traders and brokers have been re-engaging Hong Kong stock exchange officials over the possibility of reinstating the bourse’s closing auction mechanism. Industry players are optimistic that Hong Kong Exchanges and Clearing (HKEx), the exchange’s holding company, will propose its resumption in a new round of consultation soon. The mechanism was introduced in May 2008 only to be pulled in March 2009 during the global financial crisis after it was blamed for increased vola…