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Acclaimed author Raymonde Sacklyn kept copious notes of the events which took place in Hong Kong during the stock-market revolution in 1969, and now the times has come to make these unique insights public. After 129 years of market monopoly, the Hong Kong Stock Exchange, controlled by just 60 men, was destroyed by the founding of an alternative, Far East Exchange Ltd.
The establishment of competition had a knock-on effect, hastening the drafting of new laws to help to protect minority shareholders of companies, listed on the equity markets of the territory. Prior to the promulgation of these new laws, the powerful and wealthy business people of Hong Kong routinely disregarded the dissenting voices among shareholders, but no longer.
A fascinating inside account of the radical transformation of the Hong Kong Stock Exchange from a cozy, old-boys colonial network to the dynamic exchange that is now the envy of the world.
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