Hong Kong Exchanges, Brokers Drop on First Day of Stock Link
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Hong Kong Exchanges & Clearing Ltd. dropped the most in three weeks as a quota for mainland investors to buy the city’s stocks through the Shanghai exchange link debuting today went largely unfilled.
Hong Kong Exchanges fell 4.5 percent to HK$178.10 at the close, leading declines on the Hang Seng Index. The bourse operator pared its gain to 35 percent since Premier Li Keqiang unveiled plans for the stock connect on April 10. Haitong Securities Co., China’s second-largest brokerage, slid 6.1 percent today, while China Galaxy Securities Co. sank 5.1 percent. The Hang Seng Index lost 1.2 percent.