Today's dual (RMB/HKD) counter launch in HKEX was underwhelming.
Below are the total value turnovers for key stocks included in the program:
$Alibaba(BABA.US$ HK$4.3m
$Tencent(TCEHY.US$ HK$36.6m
$JD.com(JD.US$ HK$1.8m
$Meituan(ADR)(MPNGF.US$ HK$9.3m
With the exception of Tencent, the interest in RMB-denominated shares from HK/foreign investors is not substantial. We still await the inclusion of these RMB counters in the Stock Connect. $SZ->HK Connect(BK1922.HK$ $SH->HK Connect(GangGuTong.HK$
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