Hong Kong and Shenzhen Market Connection Set to Launch

Hong Kong and Shenzhen Market Connection Set to Launch

Hong Kong and Shenzhen Market Connection Set to Launch

There was a mixed performance for Hong Kong-listed companies with American Depository Receipts (ADRs) traded in the USA after conversion into the local currency.

It is also hoped that the venture will allow investors to experience increased economic benefits from both mainland China and Hong Kong, increase cooperation between the two and consolidate Hong Kong's position in the financial industry. Anbang already has a 10 percent stake in China State Construction.

All parties who intend to participate in the Shenzhen-Hong Kong Stock Connect must familiarize themselves with applicable regulatory requirements and operational rules, and ensure that proper internal controls and risk management procedures are in place, cautioned the two market regulators.

"We will closely monitor its implementation so that it will contribute to the economic and financial reforms of our country and reinforce Hong Kong's position as an worldwide financial center", the city's financial secretary John Tsang said in an e-mailed statement.

Pilots at Lufthansa announce further strikes this week
German airline Lufthansa says it's going to cancel nearly a third of all flights Wednesday because of a pilots' strike. Since Wednesday, 345,000 passengers overall have been affected by 2,755 flight cancellations, Lufthansa said.

The Dow climbed 68.96 points or 0.4 percent to 19,152.14, while the NASDAQ rose 18.24 points or 0.3 percent to 5,398.92 and the S&P added 8.63 points or 0.4 percent to 2,213.35.

Chief researcher of Southwest Securities, Zhang Shiyuan, said, "The opening of Shenzhen Hong Kong stock connect is a special channel for the Chinese capital market to integrate with the global markets".

The China stock market has moved higher in back-to-back sessions, collecting more than 20 points or 0.6 percent in that span.

The link with Shanghai hasn't been as popular as authorities may have hoped, with investors rarely hitting the daily limits.

Samsung Assures Customers Galaxy S7 Family Is Safe To Use
T-Mobile offers a free iPhone 7 Plus, Galaxy S7 Edge or LG V20 when you trade-in another iPhone 7 Plus, Galaxy S7 Edge or LG V20. To review, Apple not long ago presented the most recent iPhone 7 and iPhone 7 Plus cell phones in an all-new Jet Black shading.

Data released yesterday by the National Bureau of Statistics revealed that profit growth in China's industrial sector rose 9.8% in October, as compared to 7.7% in the prior month, providing further evidence of stabilization in Asia's largest economy.

The Shenzhen connect will enable foreigners to buy shares in a total of 863 Chinese firms for the first time, authorities said earlier. Its unit CRRC Zhuzhou Electric Locomotive Co.is planning to buy Skoda Transportation and related assets, the company said in a statement on Sunday.

The Shenzhen-Hong Kong link will give mainland investors access to about 417 stocks in Hong Kong, almost 100 more than via the Shanghai link. "The Hong Kong-Shenzhen connect has been like the Hong Kong-Shanghai connect".

Citic Securities analyst Zhang Qun said the programme's intent was more "symbolic" than substantive. Hong Kong's Hang Seng Index gained 0.9 percent, while the Shenzhen Composite Index advanced 0.2 percent.

Big game James: LeBron attending Ohio State-Michigan game
The Badgers likely won't need to worry about any team outside the top six jumping ahead of them if they win their final two games. On offense, each team has alternated between dominance and mediocrity, with the struggles mainly coming in the passing game.

Related news