HONG KONG, April 10 Hong Kong's finance minister
said on Thursday it would take months to implement a
cross-border stock investment scheme that could allow investors
to buy mainland-listed stocks via the Hong Kong stock exchange
and vice versa for Chinese bourses.
John Tsang was speaking after Chinese Premier Li Keqiang
said at an investment forum on the southern island of Hainan
that Beijing would promote a new round of opening up to the
overseas market, which would include a Hong Kong-Shanghai stock
Trading in shares of Hong Kong Exchanges and Clearing Ltd
was halted on Thursday morning.
HKEx said the suspension was pending a statement related to
the possible establishment of "mutual market connectivity". It
gave no further details.
Shares of HKEx, which jumped 9.9 percent last week when news
of possible cross-border co-operation emerged, fell 1.1 percent
on Thursday prior to the trading suspension. That compared with
a 0.3 percent gain in the benchmark Hang Seng Index..
Last week, Hong Kong Exchanges said it was in talks to
cooperate with mainland China stock exchanges although it added
there was no guarantee any deal could be reached.
(Reporting by Donny Kwok; and Michelle Chen; Editing by Anne