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China bourse drew $9.8 billion from Hong Kong stock scheme - FX regulator
January 22, 2015 / 3:13 AM / 3 years ago

China bourse drew $9.8 billion from Hong Kong stock scheme - FX regulator

BEIJING (Reuters) - Only a small inflow of cash - $9.8 billion (6 billion pounds) - flowed into China’s stock market via the landmark Shanghai-Hong Kong stock connect in November and December, China’s foreign exchange regulator said on Thursday.

The remarks were made at a news conference by Guan Tao, head of the department of international payments at the State Administration of Foreign Exchange.

The highly-touted Stock Connect scheme, launched on Nov. 17, allows foreign investors to trade Shanghai-listed shares via the Hong Kong stock exchange, and mainland investors to invest in Hong Kong shares via the Shanghai bourse.

But it has so far underwhelmed expectations and trading volumes have been tepid despite a sizzling rally in mainland China shares.

Reporting by Kevin Yao; Editing by Kim Coghill

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