HK Exchange plans to boost current quotas
Chief executive says bourse could increase limits for mainland China investors by more than 30%
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Hong Kong
THE Hong Kong stock exchange expects to increase quotas for mainland China investors by more than 30 per cent, its chief executive said, a day after heavy capital inflows from the mainland forced the city's central bank to sell Hong Kong dollars to defend its currency peg. For the first time since August, the Hong Kong Monetary Authority (HKMA) intervened on Thursday to sell HK$3.1 billion (S$545 million) in Hong Kong dollars as the local currency hit the strong end of its official trading range.
The intervention came as Hong Kong stocks surged to a seven-year high, powered by mainland Chinese buyers after Beijing last week encouraged institutions, including mutual funds and insurers, to purchase Hong Kong shares.
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