Date
17 August 2017
Regulators are yet to set a date for launch of a mutual market access program between Hong Kong and Shanghai. Photo: Bloomberg
Regulators are yet to set a date for launch of a mutual market access program between Hong Kong and Shanghai. Photo: Bloomberg

No timetable yet for Stock Connect launch: HKEx chief

The launch date for the Shanghai-Hong Kong Stock Connect program, which will allow cross-border trading of equities between the two cities, is yet to be set, said Charles Li, the chief executive of Hong Kong Stock Exchanges & Clearing Co. (HKEx).

“There’s no timetable,” Li said on the sidelines of a listing ceremony Friday, according to the Wall Street Journal.

“All preparatory work has been done, and we’re waiting for the regulators to decide what’s the best time to launch,” he was quoted as saying.

Li said he expects investors to be given two weeks’ notice prior to the launch.

Any announcement will come jointly from the China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong, the HKEx chief said. 

The Stock Connect program will allow all investors to buy shares on the Shanghai Stock Exchange via Hong Kong, while also letting investors in mainland China buy Hong Kong-listed stocks.

An initial announcement in April said trading would begin in “around six months”. Many market participants in Hong Kong had expected a start date to be announced Friday and trading to begin Oct. 27, the Journal noted.

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RC

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