The launch of the new renminbi counter is aimed at further
advancing the internationalisation of the Chinese yuan, the
stock exchange said in a statement.
"The dual-counter arrangement will offer investors a choice
of trading currency and the opportunity to potentially tap into
new liquidity," HKEX said in the filing.
The counter format will allow investors to trade stocks in
either the local Hong Kong dollar or the yuan and is expected to
diminish price disparity between the two counters.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya
Ann Thoppil and Janane Venkatraman)
(Updates with further details, background)
March 15 (Reuters) - The Hong Kong Stock Exchange on
Wednesday said it applied to launch a renminbi counter for the
trading of its shares under the upcoming dual-currency counter
to support the development of the currency in the local market.
The bourse operator, a unit of Hong Kong Exchanges and
Clearing Ltd , had announced in December its plans to
introduce a new dual-counter trading model in the first half of
2023.
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