Two dozen Hong Kong-listed stocks will be priced in the yuan on Monday, giving China's currency another boost in global finance.
Alibaba and Tencent will be among the shares that will be traded in both yuan and the Hong Kong dollar, which is pegged to the US dollar. Under the so-called Dual Counter Model program, Hong Kong Stock Exchanges and Clearing hopes to attract overseas investors with yuan holdings and eventually mainland Chinese investors,Investors with yuan holdings in countries like Russia, which has relied heavily on China's currency since being largely shut out of the global financial system by Western sanction, could also be potential participants.
HKEX will also launch a market-maker program that's meant to minimize the price differences between the two currencies. Investors can choose to trade using Hong Kong dollars or yuan, which has seen significant volatility lately. So investors trading with the yuan could limit conversion and hedging costs.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Källa: wjxt4 - 🏆 246. / 63 Läs mer »
Källa: engadget - 🏆 276. / 63 Läs mer »