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Chinese securities shares jump on news of cross-border stock investment
April 10, 2014 / 6:00 AM / 4 years ago

Chinese securities shares jump on news of cross-border stock investment

HONG KONG, April 10 (Reuters) - Shares in Hong Kong-listed Chinese securities firms jumped on Thursday after Beijing’s securities regulator said it will allow cross-border stock investment between Hong Kong and Shanghai.

The China Securities Regulatory Commission (CSRC) said it will allow mainland investors to trade shares in designated companies listed in Hong Kong, and at the same time let Hong Kong investors buy shares in companies listed in Shanghai.

Shares of the country’s two-largest brokerages surged, with CITIC Securities Co Ltd and Haitong Securities Co Ltd both climbing more than 6 percent, outpacing a 0.6 percent gain for the benchmark index. (Reporting By Alice Woodhouse; Editing by Anne Marie Roantree and Chris Gallagher)

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