Hong Kong Stock Trading in Yuan Starts Slowly With One Exception
- China Mobile has seen yuan trading proportion of almost 10%
- Yuan deposits in Hong Kong still low: Bloomberg Intelligence
The Exchange Square Complex, which houses the Hong Kong Stock Exchange.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Hong Kong’s initiative to allow trading of some locally-listed stocks in yuan has seen a muted start, with an average of just 1% of volume in those counters using the Chinese currency.
One outlier has been China Mobile Ltd., which has seen yuan trading account for almost 10% of shares exchanged since the ability to transact the stock using the mainland currency began last week. The telecom firm has been on a US sanction list since 2021, limiting American investment.