You are here

China bourse drew US$9.8b from HK stock scheme: FX regulator

Thursday, January 22, 2015 - 11:06

[BEIJING] Only a small inflow of cash - US$9.8 billion - flowed into China's stock market via the landmark Shanghai-Hong Kong stock connect in November and December, China's foreign exchange regulator said on Thursday.

The remarks were made at a news conference by Guan Tao, head of the department of international payments at the State Administration of Foreign Exchange.

The highly-touted Stock Connect scheme, launched on Nov 17, allows foreign investors to trade Shanghai-listed shares via the Hong Kong stock exchange, and mainland investors to invest in Hong Kong shares via the Shanghai bourse.

But it has so far underwhelmed expectations and trading volumes have been tepid despite a sizzling rally in mainland China shares.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom