Hong Kong’s $1.9 Trillion Stock Market Await Boost From Yuan Trading

(Bloomberg) — Hong Kong is betting that a new program allowing investors to trade equities in the yuan on top of its local currency will help revive its flagging stock market and boost turnover that’s hovering at a four-year low.

The stock exchange is rolling out the so-called HKD-RMB Dual Counter Model on Monday to give traders the option to buy and sell some of the financial hub’s biggest-listed stocks using the yuan, including Tencent Holdings Ltd., Alibaba Group Holding Ltd. and China Mobile Ltd. There are 24 companies on the list with a combined market value equivalent to $1.9 trillion, or more than a third of the city’s total.