Beijing temporarily suspends London-China Stock Connect
London Stock Exchange Group
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16:40 24/04/24
Beijing has temporarily suspended the Shanghai-London Stock Connect due to the tensions with Westminster over the situation in Hong Kong.
Financial Services
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17:09 24/04/24
FTSE 100
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16:34 24/04/24
FTSE 350
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FTSE All-Share
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16:44 24/04/24
According to Reuters, which cited five sources that included public officials and people working on Shanghai-London transactions, the reasons behind the move were political.
Neither China's regulator, The China Securities Regulatory Commission, nor the Shanghai or London Stock Exchanges responded to requests for comment.
The scheme is meant to create deeper and more liquid markets for publicly-listed companies from both the UK and China by providing access to a wider base of investors.
Huatai Securities became the first company to partake of the scheme, in May, but a second planned listing by Chinese alternative energy operator SDIC Power, in December, was scuppered due to Beijing's suspension of Stock Connect.