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LME WEEK ASIA: HKEx hopes mutual market access in stocks can be replicated in metals
April 22, 2014 - 15:46 GMT
Hong Kong Exchanges & Clearing (HKEx) hopes that the Shanghai-Hong Kong connection will help it expand in the commodities and metals space sooner rather than later, ceo Charles Li said on Tuesday April 22.
"Commodities is still a concept and is being worked on," Li
told a press conference in Hong Kong. "It took 20 years to
build the Shanghai-Hong Kong connection. [Let's] hope it won't
take another 20 years," he said. "China is the [world's]
largest importer of commodities, but not necessarily able to
hedge risks as international markets are closed [to it]," he
said, adding that the international market uses London Metal
Exchange contracts to hedge risks in metals trading. "The
futures markets [in China and outside]...
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Euromoney Institutional Investor PLC.
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