China Securities Regulatory Commission (CSRC) plans to launch a pilot scheme, allowing H-share companies to convert their non-tradeable, HK-listed stock into free-floating shares. China A-share market and HK market generally increase for the first trading week of 2018.
Technology stocks rally last week. Significantly weighted constituents of CES China Private Elite Index (CES CPE), such as Alibaba and JD, surged in a double-digit rate. CPE overall rose 5.7%, best performer among our monitoring indices.
China’s State Administration of Foreign Exchange announced that, from 1st January 2018, mainland Chinese would be restricted to an annual RMB100,000 limit per person for cash withdrawals when using overseas Automated Teller Machines (ATMs). CES G10, benchmark for gaming sector, decrease 2.0%.
