Shenzhen-Hong Kong Stock Trading Link Gets Green Light
- Decision comes after MSCI chose not to add China to benchmarks
- Hong Kong exchange to host press conference at 9 p.m.
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The long-planned stock-trading link between Hong Kong and the mainland city of Shenzhen has been approved, a step toward opening China’s $6.5 trillion equity market to international investors.
Chinese Premier Li Keqiang announced the State Council’s endorsement, according to a statement on the body’s website. No further details were revealed. Authorities are planning to not set a quota for aggregate trading through the link between the two cities, according to two people familiar with the matter. Hong Kong Exchanges & Clearing Ltd. said it will hold a press conference at 9 p.m. local time.