If proxy indicators are to be trusted, investors will welcome with a bang a key further opening of China’s Shanghai stock market to foreigners next month, writes James Kynge.
Several portents of a rousing reception await the launch of the “Shanghai-Hong Kong Stock Connect”, which is set to offer Hong Kong and foreign investors with offshore renminbi (CNH) the most unfettered access yet to the Shanghai market.
Investors availing themselves of CNH have helped drive the currency’s three-month interbank rate to a 2014 high of more than 3 per cent in recent days, up from 1.5 per cent in June.
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