Market Pulse Archives

June 28, 2012, 5:47 a.m. EDT

Hong Kong, mainland Chinese bourses form JV

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Hong Kong Exchanges & Clearing Ltd. (388)
  • X
    Hong Kong Exchanges & Clearing Ltd. ADR (HKXCY)

or Cancel Already have a watchlist? Log In

By V. Phani Kumar

HONG KONG (MarketWatch) -- Hong Kong Exchanges & Clearing Ltd. said Thursday that it's entered into an agreement with the mainland stock exchanges in Shanghai and Shenzhen for a joint venture to develop new financial products and services. HKEx /zigman2/quotes/200234512/delayed HK:388 -0.64% /zigman2/quotes/201215503/delayed HKXCY +0.63% , Shanghai Stock Exchange and Shenzhen Stock Exchange will each invest 100 million Hong Kong dollars ($12.8 million) into the venture as initial paid-up capital and hold a 33.3% stake apiece. The JV, which will develop index-linked and equity derivatives products, is also aimed at increasing cooperation between the Hong Kong and Chinese financial markets, promoting internationalization, and enhancing the overall competitiveness of mainland China's capital markets, according to a joint statement. Thursday's announcement follows a August 2011 statement saying the three bourses had agreed in principle to discuss such a JV.

HK : Hong Kong
$ 432.00
-2.80 -0.64%
Volume: 4.61M
Dec. 2, 2021 4:08p
P/E Ratio
Dividend Yield
Market Cap
$544.03 billion
Rev. per Employee
US : U.S.: OTC
$ 55.57
+0.35 +0.63%
Volume: 74,395
Dec. 1, 2021 3:48p
P/E Ratio
Dividend Yield
Market Cap
$69.78 billion
Rev. per Employee

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.