Xiaomi shares jump after Hong Kong, mainland exchanges reach agreement

Shares of smartphone maker Xiaomi rose on Wednesday, notching a fresh high after Hong Kong’s stock exchange said This kind of could work with its mainland counterparts on moving toward including companies with weighted voting rights inside stock connect program.

in which followed Hong Kong Exchanges in addition to Clearing, which operates the Hong Kong stock exchange, saying Wednesday in which This kind of had come to an agreement with counterparts in Shanghai in addition to Shenzhen to move toward allowing the trade of companies with weighted voting rights (WVR), or dual class shares, through the program connecting stocks between Hong Kong in addition to the mainland.

The three stock exchanges have agreed to form a joint working group to develop programs in addition to additional rules to facilitate the inclusion of WVR companies in stock connect trading “as soon as possible,” Hong Kong Exchanges said in a Discharge. There was no elaboration on when exactly in which could occur.

This kind of added in which the parties also recognized in which mainland investors may not be familiar with the concept of WVR companies in addition to in which there was a need to review both markets’ sophistication in addition to regulatory framework when such companies are allowed for trade under the stock connect.

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