HK and Shenzhen study stock connect
Print Edition
HONG Kong’s bourse said yesterday that it is seeking to boost trade with the Chinese mainland’s Shenzhen Stock Exchange, after the launch of the highly touted linkup with Shanghai in November.
Officials had trumpeted the Shanghai-Hong Kong Stock Connect as opening up the mainland’s stock markets to the world, in a link which could lead to billions of dollars in daily cross-border transactions.
But the plan has not generated much interest with foreign buyers, who have used only 25 percent of their quota for mainland stocks and less than 6 percent for Hong Kong shares, according to Bloomberg News.
However, this has not put off bourse authorities in Hong Kong and neighboring Shenzhen from studying the possibility of a new stock connect between the two major economic hubs.
Foreign investors would have access to China’s foremost private companies in technology and health care industries through the touted trading link with the Shenzhen exchange.
“The Hong Kong stock exchange and Shenzhen Stock Exchange are conducting a feasibility study on a program to connect the two markets,” a spokesman for the Hong Kong bourse said yesterday.
On Tuesday, the Shenzhen Stock Exchange said: “When the plan matures, we will put the plan forward for regulatory approvals in both places.”
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