Hong Kong Exchanges and Clearing Limited (HKEX) has confirmed plans to reduce the settlement cycle for the cash equities market from T+2 to T+1, with implementation targeted for September 2028. The timeline was revised to the second half of 2028 following market feedback on the proposed transition. The Hong Kong Securities and Futures Commission (SFC) welcomed the move as a critical step in maintaining Hong Kong's competitiveness as an international financial center and aligning with global standards. The SFC will collaborate with HKEX to amend relevant rules and procedures, while urging industry participants to assess operational impacts early.