In the face of market volatility and growing speculation that a recession could be coming, investors in Hong Kong are fleeing stock markets – except for those funnelling cash into warrants and callable bull/bear contracts (CBBCs).

The combined turnover of warrants and CBBCs listed on the Hong Kong Exchange (HKEx) in Q4 of last year rose almost 20% from the previous quarter to roughly HKD1.4 trillion, according to data from the Hong Kong bourse. The rise came despite an 8% quarter-on-quarter drop in the exchange’s overall turnover in the last three months of 2018 to HKD5.3 trillion. Keith Chan ( pictured ), head of cross asset listed distribution for Apac at Societe Generale, told SRP that it was volatility &nd

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