久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / Markets

Investors hesitate before stock link

By Emma Dai (China Daily) Updated: 2014-07-29 06:50

Investors hesitate before stock link

The Shanghai Composite Index closed up 2.4 percent at 2,177.95 points on Monday, its highest finish since Dec 13. Meanwhile, the clock is ticking toward October, when the Hong Kong-Shanghai Stock Connect, commonly known as the through train, is scheduled to launch. XIE ZHENGYI/CHINA DAILY

Two months away from the scheduled Hong Kong-Shanghai Stock Connect, overseas investors are still thinking through their A-share strategy. While some cannot wait to board the "through train", others are holding back, Emma Dai reports from Hong Kong.

"We will take a step-back approach first. A lot of overseas investors, especially foreign clients, would like to watch the stock connect run for a while before putting real money in," said Kelvin Wong, senior equity analyst of Bank Julius Baer, a Swiss private bank.

"We need a clearer picture of how it works," he said. "Details of the through train, such as trade rules and arrangements for dividend tax and capital gains tax, are yet to be decided. It may take longer than planned to launch."

Investors hesitate before stock link
Shanghai-HK link set to boost arbitrage gains for investors
Investors hesitate before stock link
Through train for equities to lift capital market sentiment
The clock is ticking toward October, when the Hong Kong-Shanghai Stock Connect, commonly known as the through train, is scheduled. Northbound investors will be able to trade up to 568 A-share listed stocks under a net-buy aggregate quota of 300 billion yuan ($48.38 billion) or a daily quota of 13 billion yuan.

According to the latest information from the Hong Kong Stock Exchange, 111 participants have submitted their registration for the through train, accounting for 81 percent of securities market turnover in the city.

"Brokers can conduct system tests now, and market rehearsals are scheduled in late August to September," said the HKEx in a statement to China Daily. However, enthusiasm appears somewhat one-sided, as many overseas investors are still sitting on the fence.

"Through train is a good scheme, but we are worried about potential dark pool information leaking," said Paul Chan, chief investment officer for Asia ex-Japan at Invesco, a wealth management house looking after $802.4 billion in assets.

"According to pre-trade checking rules regarding when to sell A-shares, we have to transfer shares to brokers one day before trading," Chan said. "That generates a huge problem. How can we make sure word does not spread? It happened in the US. If information leaks, all high frequency traders would know by the next day. How can we protect the interests of our clients? We have to fix this first."

In response, HKEx told China Daily a settlement instruction session will be introduced every trade day morning to enable custodians to transfer A-shares, which is expected to shorten the time gap between the transfer of shares and selling transaction.

"We believe custodians and brokers may find the morning session run particularly useful to their institutional clients who may have difficulty meeting regulatory requirements of transferring A-shares to selling brokers one day before trading. We will monitor how it runs and consider if further adjustments would be required," said HKEx, adding at the same time, mainland authorities are aware of and working on the tax matters.

Previous Page 1 2 3 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产成人精品福利站 | 日本xxxxx黄区免费看动漫 | 亚洲天堂日韩在线 | 久久成人福利视频 | 欧美日本综合一区二区三区 | 免费观看一级一片 | 日韩三级视频在线 | 亚洲国产精品大秀在线播放 | 成人久久网 | 午夜伦y4480影院中文字幕 | 亚洲视频2| 欧美在线播放视频 | 色片在线播放 | 免费一级欧美大片视频在线 | 国产一区二区在线不卡 | 特黄毛片 | caoporen国产91在线| 手机在线免费毛片 | 久久免费视频网站 | 曰韩一级| 日本九六视频 | 国产成年人 | 久久99亚洲精品久久久久99 | 免费一级毛片麻豆精品 | 精品国产网站 | 日本欧美一区二区三区视频 | 亚洲天堂男| 九九在线观看精品视频6 | 韩国免又爽又刺激激情视频 | 亚洲精品综合欧美一区二区三区 | 日本免费一区二区三区看片 | 国产精品久久久久久一级毛片 | 免费人成年短视频在线观看网站 | 久久久久久久久久免观看 | 经典三级久久 | 亚洲国产精品免费 | 精品视频在线一区 | 亚洲国产精品网 | 午夜精品尤物福利视频在线 | 高清性色生活片欧美在线 | 一色屋成人免费精品网 |