13th Mar 2023 10:02
(Alliance News) - Standard Chartered PLC on Monday said its Hong Kong shares have been included in the south bound Stock Connect programme, which allows investors in mainland China to invest in the Hong Kong market.
The London-based, Asia-focused bank said the inclusion of its Hong Kong shares in the Shanghai and Shenzhen Stock Connect schemes follows their addition to both the Hang Seng Composite Index and the Hang Seng Large-Mid Cap Index.
The south bound Stock Connect programmes allow mainland China investors to access Hong Kong shares, providing "new diversification opportunities", Standard Chartered said.
Standard Chartered Asia Chief Executive Officer Ben Hung said: "We are delighted to be included in the Stock Connect scheme and contribute to Hong Kong's role as the super-connector between mainland China and overseas investors. The inclusion will allow mainland Chinese investors to participate in our growth as we continue to invest and execute our strategy, as well as seize opportunities in China."
StanChart shares were down by 5.6% at 698.60 pence in London on Monday morning. In Hong Kong, the shares closed up 0.2% at HKD70.50.
By Sabrina Penty; Alliance News reporter
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