China's scheme to connect the Hong Kong and Shanghai stock exchanges will not be unveiled this week as planned, with no new launch date yet specified.
The scheme, originally scheduled for launch on 27 October, will allow much easier access to yuan-denominated mainland A-Shares by foreign investors. But following a week of confusion over implementation, Hong Kong Exchanges and Clearing said in a statement yesterday the connect scheme has not received regulatory approval. The firm's shares fell 5% as a result, with the Hang Seng dropping over 1%. The change in plan has been put down to the shaky environment in the region, following month-long pro-democracy protests in Hong Kong. In the run up to the planned launch there was talk...
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