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Shenzhen-Hong Kong connect may prompt MSCI inclusion: Hong Kong Exchange chief

Collected: 2016.10.19

Distributed: 2016.10.20

Source: Go Direct

Charles Xioajia Li, chief executive officer of Hong Kong Exchanges & Clearing Ltd. said that a market linkup between bourses in Shenzhen and Hong Kong will serve as a catalyst for opening of the Chinese capital markets to the global economy and increase the likelihood for Shanghai A-shares to be included in Morgan Stanley Capital International (MSCI) emerging markets index.

Li said in an interview with the Maeil Business Newspaper on Tuesday that Hong Kong and Shenzhen exchanges had started Monday a market test running until November 9 to prepare for the imminent launch of the market tie-up. Market analysts in China have been speculating the launch day would fall on November 21 or 28, two years after the inauguration of the Shanghai-Hong Kong Stock Connect on November 17, 2014.

The Shenzhen connect would work as a “connector” that leads to mutual growth of the markets in Hong Kong and the mainland, Li said. The connection would give overseas investors a transparent and efficient access to the Chinese market where a number of promising companies are listed, he added.

The new stock trading link will allow international investors to invest in 881 stocks, representing 74 percent in market capitalization, among the total 1,764 stocks listed on the Shenzhen market as of the end of June. Li also expected the connect would contribute to the internationalization of the Chinese renminbi (RMB) as it would provide more channels to RMB investment for qualified foreign institutional investors (QFII) and RMB QFII (RQFII).

By Kim Dae-gi

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