China News Service, July 5th, according to Hong Kong's "Ta Kung Pao" report, the ETF was officially traded on the 4th.
Data from the Hong Kong Stock Exchange shows that on the first day, northbound funds bought a total of 147.5 million yuan (about 172 million Hong Kong dollars) in Shanghai-Shenzhen Stock Connect ETFs; the purchase amount of southbound ETFs was 84.13 million Hong Kong dollars.
Ou Guansheng, chief executive of the Hong Kong Stock Exchange, said on the 4th that the inclusion of ETFs in the interconnection target is an important step for the Hong Kong Stock Exchange to vigorously develop the ETF business and consolidate Hong Kong as an ETF hub in Asia.
Cai Fengyi, executive director of the Investment Products Department of the Hong Kong Securities Regulatory Commission, pointed out that ETF Connect will adopt a more prudent approach in the initial stage, but the SFC will work closely with the China Securities Regulatory Commission, as well as Hong Kong and Mainland exchanges in the future to gradually improve the mechanism of ETF Connect .
At yesterday's opening ceremony for the inclusion of ETFs into the Mainland and Hong Kong stock trading interconnection mechanism, Cai Jianchun, general manager of the Shanghai Stock Exchange, said that the successful inclusion of ETFs is an important measure to deepen the reform and innovation of the interconnection mechanism, and will help further play the role of the interconnection mechanism. It will facilitate domestic and foreign investors to invest in each other's markets; it will help improve the international level of the Shanghai Stock Exchange, and it will also help asset managers and securities companies in the two places to further improve their management and service levels, and consolidate and enhance the status of Shanghai and Hong Kong as an international financial center.
Cai Jianchun quoted data yesterday that since the Shanghai-Hong Kong Stock Connect business was officially launched in 2014, the cumulative turnover has reached 52 trillion yuan.
At the same time, in recent years, the development of the ETF market on the Shanghai Stock Exchange has also yielded fruitful results.
At present, a total of 437 ETFs are listed for trading, with a market value of 1.2 trillion yuan and a turnover of 6.6 trillion yuan, ranking first in Asia.
Cai Fengyi added that since the first ETF was listed in Hong Kong in 1999, the market size has increased by 10 times, and the average daily turnover has increased by 20 times. It is believed that the growth will continue after the opening of the ETF.
ETFs can bring products to another market without the need for additional registration and listing procedures for ETFs one by one. It is believed that the asset management scale (AUM) of Hong Kong ETFs will increase.
Among the Shanghai and Shenzhen stocks purchased by northbound funds yesterday, the Shanghai Stock Connect accounted for 140 million yuan; the Shenzhen Stock Connect accounted for 7.48 million yuan.
In terms of southbound funds, 20.95 million Hong Kong dollars came from Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect accounted for 63.18 million Hong Kong dollars.
The trading volume of the 4 Hong Kong ETFs included in China Connect was relatively stable yesterday.