It took slightly more than 10 minutes for international investors to plough more than $1bn into the Shanghai equity market yesterday morning, as a new trading scheme began to reshape the way the world interacts with China’s financial markets.
The Shanghai-Hong Kong Stock Connect has not only attracted cash, but also towering rhetoric. Charles Li, chief executive of the Hong Kong stock exchange, described the new market opening as a “historic moment” that would “redefine Hong Kong”.
International investors are busy seeking out ways to profit from the scheme, which finally gives them direct access to one of the world’s largest capital markets without the need for a licence.