China's first cross-border stock trading programme is to allow short-selling, giving international money managers the chance to take a two-way view as many invest in Shanghai-listed A-shares for the first time. Hong kong exchanges and clearing has confirmed that investors in Hong Kong will be able to take covered short positions in Shanghai-listed shares under the Shanghai-Hong Kong Stock Connect scheme. The latest rules also allow margin trading, increasing the appeal of the pilot programme to retail investors and long-short funds. However, HKEx warned that these services would probably not be available when the scheme is launched later this month to allow times for trading systems to be updated.
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