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Second stock link ‘realistic’ in H2
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THE launch of a trading link between the Shenzhen and Hong Kong stock markets in the second half of this year is “realistic,” the head of the Hong Kong bourse said yesterday.
A connection with Shenzhen may offer investors more investment choices, Charles Li, chief executive officer of Hong Kong Exchanges and Clearing Ltd, told media in Hong Kong.
“The mutual market access program can be expanded to allow cross-border trading of equity derivatives, commodities and fixed income assets,” Li said.
He noted the Shenzhen-Hong Kong link will boost the possibility for A shares to be included into MSCI’s widely traded emerging market index.
Hong Kong Chief Executive Leung Chun-ying said on Monday that the new link is likely to start in the second half of this year, following the Shanghai-Hong Kong Stock Connect that started in November.
However, trading under the current link has been tepid as investors used up only about 20 percent of the 235 billion yuan (US$38 billion) daily available quota.
Li said securities regulators on both sides are planning to ease curbs on the link and to increase trading days to boost vitality.
Hong Kong should enhance competitiveness and reposition its financial markets as the Chinese mainland gradually opens the capital markets, Li also said.
There are new and very different opportunities emerging for Hong Kong and HKEx as the mainland expands the scope for domestic investors to invest outside their home market, he said, adding that these emerging opportunities come with significant risks for Hong Kong in its traditional roles and require new capabilities, innovative solutions and above all, prompt action.
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