Investment Bank Seeks Higher Quotas
By Winny Wang |
January 19, 2010, Tuesday
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Print Edition
Print Edition
UBS AG will apply for an increase in China equity market quotas as its current US$800 million limit doesn't meet demand, especially as the country is set to launch index futures, an executive said yesterday.
"Our quotas are still inadequate to fulfill our clients' demand in the A-share market, but our application to expand the limit will be submitted soon," said Nicole Yuen, managing director and head of China equities at UBS. She didn't say how much the investment bank will seek.
China in October permitted new applicants under the Qualified Foreign Institutional Investor scheme to invest as much as US$1 billion each in its equity markets, compared with the previous US$800 million limit.
"China's stock market is expected to rise stably this year despite short-term moves triggered by the government's stricter policies," Yuen said.
"Our quotas are still inadequate to fulfill our clients' demand in the A-share market, but our application to expand the limit will be submitted soon," said Nicole Yuen, managing director and head of China equities at UBS. She didn't say how much the investment bank will seek.
China in October permitted new applicants under the Qualified Foreign Institutional Investor scheme to invest as much as US$1 billion each in its equity markets, compared with the previous US$800 million limit.
"China's stock market is expected to rise stably this year despite short-term moves triggered by the government's stricter policies," Yuen said.
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