Hong Kong-Shanghai trading link to start on Nov 17
Hong Kong
A TRADING link between Hong Kong and Shanghai's stock exchanges will start on Nov 17 after weeks of delays, the Hong Kong exchange announced on Monday, in a move that is expected to lead to billions of dollars in daily transactions.
The Hong Kong Monetary Authority described the "Shanghai-Hong Kong Stock Connect", which is seen as a key step towards greater financial liberalisation in China's economy, as a "milestone".
"The SFC and the CSRC jointly announced today that the launch of Shanghai-Hong Kong Stock Connect on 17 Nov 2014 . . . has been approved," a statement issued by the Hong Kong Stock Exchange (HKEX) said on Monday. The exchange said it "welcomes today's announcement".
The SFC is Hong Kong's Securities and Futures Commission (SFC), and the CSRC is the China Securities Regulatory Commission. The news lifted both markets, with Hong Kong shares ending on Monday 0.83 per cent higher while Shanghai added 2.3 per c…
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