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[HONG KONG] A trading link between the stock exchanges of Hong Kong and China's Shenzhen, allowing investors to buy and sell shares on either side of the border, may be delayed until December, a local newspaper reported on Friday.
The paper said markets had expected the link to go live on Nov 21. "The mainland has not given the final approval yet, and the reason is unknown," the paper cited sources close to regulators as saying. Continuous depreciation of Chinese currency and capital outflow may have led to the delay, market sources told the paper.
A Hong Kong Exchange Clearing and Exchange Ltd spokesman declined to comment, adding the link is still pending approval from regulators.
The link is an extension of an existing arrangement between Hong Kong and Shanghai. It will give investors in Hong Kong access to one of the world's busiest exchanges with a high proportion of tech-related stocks.