Saxo Bank wants a piece of Chinese stocks. The move comes as foreign money is about to surge into the Chinese stock market.
Danish online bank Saxo now offers access to trade China A-shares listed on the Shanghai and Shenzhen stock exchanges via the Hong Kong Stock connect link, the bank said in a media statement.
The move comes at an opportunistic time: Chinese A-shares were recently included in the MSCI Emerging Markets Index. In a long-awaited move, as many as 234 of the yuan-quoted shares of mainland Chinese companies will be included in the MSCI’s global and regional indexes.
Growth Opportunities
The shares will be added in two phases, in June and September. The rollout represents the latest step, after five years and four rounds of indexing discussions with global investors. China's A-share market is one of the biggest in the world, worth some $8.5 trillion in 3,500 stocks.
«China is the greatest growth story of our century and the appetite among investors to access this growth through capital markets is significant,» Saxo CEO and founder Kim Fournais said.
