China’s stock markets recorded a new milestone on Monday with the launch of a trading link between Hong Kong and Shenzhen an initiative that leaves the mainland equity market fully open and offers a gateway to invest in some of China’s fastest-growing industries.
But enthusiasm for the link between the Hong Kong and Shenzhen bourses, home to about 1,700 and 1,800 companies respectively, is notably cooler than for the tie-up between Hong Kong and Shanghai two years ago.
In fact, stock indices in Hong Kong and Shenzhen fell 0.4% and 1.2% respectively on launch day, having been largely flat since the programme was announced in...
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