Hong Kong Stock Exchange CEO Li says to increase stock connect quota

[HONG KONG] Hong Kong Exchanges and Clearing Ltd (HKEx) expects it will "substantially increase" quotas for the stock connect programme between Hong Kong and Shanghai, HKEx Chief Executive Charles Li said on Friday.

The exchange could boost the current quotas, which cap how much mainland investors can buy Hong Kong stocks and vice versa under the trading link, by more than 20 or 30 per cent, Mr Li said at a media briefing in Hong Kong.

Mr Li did not give a precise date for when the quotas would be raised.

Chinese investors for the first time on Wednesday used the entire 10.5 billion yuan (S$2.3 billion) daily quota for buying Hong Kong stocks, boosting turnover under the Shanghai-Hong Kong Stock Connect to a record.

REUTERS