Lacklustre showing by Shanghai- Hong Kong stock connect
Hong Kong
A MONTH after China opened up its equity markets in a landmark trading link with Hong Kong, demand has been subdued and the bulk of activity has come from short-term speculative investors.
The authorities had hoped mutual and pension funds and private banks would form the bedrock of the Shanghai-Hong Kong stock connect. But early trade volumes in the programme launched in mid-November were completely dominated by hedge funds and banks' proprietary trading desks, according to five traders at some of the biggest brokerages participating in the scheme.
Regulatory hurdles have kept out a large swathe of the investment community - and the …
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