Shanghai's HK bourse 'connect' leaves small investors high and dry
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Shanghai
WHEN the Shanghai and Hong Kong stock exchanges "connect" on Monday, it will open multibillion-dollar channels for investors to play both markets, but some Chinese punters say it looks more like a bad trade. Overseas investment houses are salivating at the prospect of greater access to the Shanghai bourse, and the companies of the world's second-largest economy.
But most of China's more than 175 million stock investors are individuals, accounting for an estimated 80 per cent of trading on the Shanghai Stock Exchange, once described as a "casino" by Chinese economist Wu Jinglian because of its speculative gyrations.
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