Market timing problems rare in Hong Kong

Hong Kong's Securities and Futures Commission, reacting to the market-timing and other mutual fund scandals in the United States, surveyed 48 firms with portfolios containing global securities in the first quarter of 2004. It has found isolated problems but, industry-wide, believes Hong Kong has not been subject to major problems of this nature. Few firms reported unusual frequent trading spikes although two firms said market timers had approached them recently asking to be allowed…