Trading began Monday on a new cross-border stock link between Hong Kong and the neighboring Chinese city of Shenzhen, widening access to China's markets for global investors. Its debut follows the launch of a similar link between Hong Kong and China's main exchange in Shanghai two years ago. So this indeed is a historical moment," said Charles Li, chief executive of market operator Hong Kong Exchanges and Clearing. Hong Kong has long been used as an offshore outpost by Beijing, since China's markets are still mostly fenced off from global capital flows. Hong Kong stocks are priced in the city's own currency, which is pegged to the U.S. dollar.

Source: ABC News December 05, 2016 02:11 UTC