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| Shenzhen-Hong Kong trading scheme kicks off | |
| (about 4 hours later) | |
| Investors in Hong Kong can buy stocks on the Shenzhen Stock Exchange and vice-versa from today, following the official launch of the Shenzhen - Hong Kong trading link. | Investors in Hong Kong can buy stocks on the Shenzhen Stock Exchange and vice-versa from today, following the official launch of the Shenzhen - Hong Kong trading link. |
| The link was supposed to launch at the end of last year, but was delayed due to Chinese market volatility. | The link was supposed to launch at the end of last year, but was delayed due to Chinese market volatility. |
| Shenzhen has been promoted as a hub for technology and its stock market has been linked to the US-based Nasdaq. | Shenzhen has been promoted as a hub for technology and its stock market has been linked to the US-based Nasdaq. |
| As a result, foreigners will be able to trade shares in almost 900 firms. | As a result, foreigners will be able to trade shares in almost 900 firms. |
| Shenzhen is Asia's busiest exchange with monthly turnover of more than $1 trillion, according to the World Federation of Exchanges data. | Shenzhen is Asia's busiest exchange with monthly turnover of more than $1 trillion, according to the World Federation of Exchanges data. |
| At the scene: Helier Cheung, BBC News, Hong Kong Stock Exchange | |
| This is being described as a "historic" launch in the Hong Kong media. | |
| Leader CY Leung said the stock link would make the territory "a superconnector between China and the rest of the world". | |
| Hong Kong has traditionally been seen as a bridge for international investors hoping to benefit from China's rise, but experts say the money is now also flowing in the other direction. | |
| Until recently, it had been difficult for Chinese wealth to diversify beyond China's borders, Charles Li, chief executive of the Hong Kong Exchange, told the BBC. | |
| The connect programme "allows Chinese national wealth to be deployed beyond China, and the first thing they can do is come through Hong Kong", Mr Li says. | |
| It also offers opportunities for more international companies to list in Hong Kong, he adds. | |
| Some Hong Kong companies will also benefit from the new link - the Shenzhen connect will offer access to about 100 companies on the Hang Seng Small Cap index - which were not directly available to mainland Chinese investors before. | |
| China has been working on ways to open up its $6.5 trillion (£5.1 trillion) equity markets to foreign investors. | China has been working on ways to open up its $6.5 trillion (£5.1 trillion) equity markets to foreign investors. |
| Beijing has also been pushing to have its bourses included in global index providers MSCI but their latest bid was rejected in June. | Beijing has also been pushing to have its bourses included in global index providers MSCI but their latest bid was rejected in June. |
| The link up between Shenzhen and Hong Kong follows the launch of the Shanghai-Hong Kong Stock Connect in November 2014. | The link up between Shenzhen and Hong Kong follows the launch of the Shanghai-Hong Kong Stock Connect in November 2014. |
| It allowed international investors to trade in 568 Shanghai-listed A shares, and 315 Hong Kong stocks. | It allowed international investors to trade in 568 Shanghai-listed A shares, and 315 Hong Kong stocks. |
| Hong Kong has benefited from the Stock Connect scheme as mainland investors look to buy overseas assets to counter the weakening Chinese yuan. |