Arab Today, arab today hong kongshanghai trade link disappoints on day 2
Last Updated : GMT 07:42:21
Arab Today, arab today
Arab Today, arab today

Hong Kong-Shanghai trade link disappoints on day 2

Arab Today, arab today

Arab Today, arab today Hong Kong-Shanghai trade link disappoints on day 2

Head of the China Securities Regulatory Commission
Hong Kong - AFP

 Investors largely turned away from the link-up between the Hong Kong and Shanghai stock exchanges on Tuesday, a day after it launched to much fanfare and ambitions for billions of dollars in daily cross-border transactions.
Officials have trumpeted the Shanghai-Hong Kong Stock Connect as opening up China's closeted stock markets to the outside world and giving mainlanders a chance to enter the lucrative Hong Kong exchange.
But the second day of trading has proved a damp squib, with China-based investors buying little more than three percent of their daily allowance of Hong Kong shares by the break, while Hong Kong dealers picked up only a fifth of their Shanghai quota.
The launch day was also disappointing. While Hong Kong investors had exhausted their daily allowance of Shanghai shares two hours before the end of trade, mainlanders used up less than 20 percent of their quota by the close.
The weak uptake was reflected in the two stock markets, which were hit by another batch of downcast housing data out of China that indicate continued weakness in the world's number two economy. Hong Kong was down 0.75 percent at lunch, while Shanghai was 0.41 percent lower.
"One would expect trading volumes to be the highest at the beginning and have daily trading limits hit extensively," Credit Suisse said, according to Dow Jones Newswires. "While we do expect participants to increase materially over time, southbound volumes were disappointing."
Shares in Hong Kong Exchanges & Clearing fell 2.8 percent Tuesday after losing 4.45 percent Monday.
The creation of the trading platform is seen as a key step towards greater liberalisation in the world's second largest economy.
But it is subject to strict limits in order to preserve capital controls in China, where Communist authorities keep a tight grip on the yuan currency.
If an investor buys stocks in the other market, when they sell the money can only go back to their home market account, a so-called "closed path" to prevent "hot money" leaking out.
However, while Hong Kong dealers are keen to buy up firms in China, many mainland traders -- who are usually elderly, private investors -- are reluctant to go the other way, and enter a market with which they are not familiar.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kongshanghai trade link disappoints on day 2 Arab Today, arab today hong kongshanghai trade link disappoints on day 2

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kongshanghai trade link disappoints on day 2 Arab Today, arab today hong kongshanghai trade link disappoints on day 2

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today France opens door to post-2025 talks

GMT 05:16 2017 Wednesday ,20 September

France opens door to post-2025 talks
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday