The failure of Chinese stocks to be included in key international benchmarks earlier this year cast a shadow over the long-awaited debut of a trading link designed to give foreign investors greater access to shares listed on the mainland.
Demand from investors outside China for shares listed on the Shenzhen Stock Exchange reached just Rmb2.67bn ($390m) on Monday, or only a fifth of the daily quota available. The trading link, known as the Shenzhen-Hong Kong Stock Connect, allows foreigners to trade 881 stocks, and offers investors more exposure to the country’s tech sector than the Shanghai Stock Exchange.
The lacklustre first day was a sharp contrast to the launch two years ago of a similar link giving foreigners easier access to shares listed in Shanghai. Then international investors exhausted their Rmb13bn daily quota before the debut session was over.