CSRC: Shanghai-HK Stock Connect achieves goals

The pilot stock trading scheme linking Shanghai and Hong Kong has achieved its intended goal, the securities regulator said on Friday, responding to concerns about poor market demand in the first trading week.

By the close of trade on Friday, total trading value reached 29.1 billion yuan ($4.75 billion) under the Shanghai-Hong Kong Stock Connect program. Investors in Hong Kong traded 25.2 billion yuan of Shanghai-listed shares while the mainland investors bought and sold 3.9 billion yuan of Hong-Kong listed shares, according to the China Securities Regulatory Commission.

The launch of the stock trading scheme on Monday has been viewed as a milestone in the process of liberalization of the capital market as it enables investors in Shanghai and Hong Kong to trade shares in each other's market for the first time.