This news hit the screens a little while ago, just filling in some details now, via Bloomberg:
- The exchange link between Hong Kong and Shanghai will start from November 17
- The Shanghai-Hong Kong Stock Connect permits international money managers to purchase a net 13 billion yuan ($2.1 billion) a day of Chinese shares
- Also provides a route for mainland investors to buy Hong Kong equities.
- “This is a game changer in the development of China’s financial markets,” Marty Sun, a Hong Kong-based managing director of equities trading at Goldman Sachs Group Inc., said before today’s announcement. “In the long run, it will integrate the Hong Kong and mainland stock markets to create the world’s second largest with a market capitalization of over $6 trillion.”
