Guests attend the launch of Shenzhen Connect at the Hong Kong Exchanges in Hong Kong, China December 5, 2016.
HONG KONG—The opening of a trading link between the Hong Kong and Shenzhen stock markets met with a muted response from investors.
At the end of the trading day Monday, investors based outside China had piled around 2.71 billion yuan ($ 393.5 million) into the Shenzhen market—home to some of the country’s fastest-growing companies in sectors like technology, pharmaceuticals and consumer goods—while Chinese investors had put 850 million yuan ($ 123.4 million) into Hong Kong stocks. Those totals represent 21% and 8%, respectively, of the daily limits for the link known as Stock Connect.
The Shenzhen Composite Index closed 0.78% lower and Hong Kong’s benchmark Hang Seng Index HSI, -0.26% was down 0.26%.
The underwhelming activity comes despite a monthslong buildup, as the opening coincided with a number of events that weighed on global markets during Asian trading hours. Italy’s prime minister resigned after losing a key referendum vote, while U.S. President-elect Donald Trump criticized China’s currency and trade policies via Twitter.
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