HKEX Applies to Launch Yuan Counter for Hong Kong-Listed Shares

Hong Kong legislators in January approved regulations to waive stamp duties on eligible stock transactions conducted by market makers for dual-counter trading.

The Hong Kong Stock Exchange (HKEX) applied to launch a yuan counter for stock trading as part of the coming dual-currency model to support development of the Chinese currency in the stock market, the bourse said Wednesday.

The yuan counter will enable investors to seamlessly switch between stocks traded in both Hong Kong dollars and yuan, offering a choice of trading currency and the potential to access new liquidity, Hong Kong Exchanges and Clearing Ltd. said.

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