April 11, 2018 / 3:13 AM / 3 months ago

RPT-China to expand daily quotas under stock connect schemes from May 1

(Repeats to attach to alert)

SHANGHAI, April 11 (Reuters) - China’s securities regulator said on Wednesday daily quotas of the stock connect schemes linking mainland and Hong Kong markets will be expanded starting May 1.

The daily northbound quotas under Shanghai and Shenzhen stock connect schemes will be boosted to 52 billion yuan ($8.27 billion), the China Securities Regulatory Commission (CSRC) said in a statement on its website.

Daily southbound quotas under the schemes will be adjusted to 42 billion yuan. In June and September, global index publisher MSCI will add around 230 large-cap Chinese stocks into its EM index. The index weighting will be small but some expect money flows from Hong Kong into China via the stock connect scheme on those days may breach the daily quota. ($1 = 6.2840 Chinese yuan renminbi) (Reporting by Samuel Shen and John Ruwitch Editing by Shri Navaratnam)

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