Hong Kong's yuan-denominated counter may be included in the southbound leg of the Stock Connect program within this year, The Standard reported June 13, citing Securities and Futures Commission CEO Julia Leung.
The move would facilitate yuan settlement in trading in Hong Kong, according to the report.
The Hong Kong Exchanges and Clearing (HKG:0388) launched the dual counter model in June 2023, allowing investors to trade stocks in both Hong Kong dollars and yuan.
As of August 2024, 24 companies, including Tencent (HKG:0700) and Alibaba (HKG:9988), have adopted the model, The Standard wrote, citing HKEX data.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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