Launch date still unclear for Shanghai-Hong Kong Stock Connect

Premier Li Keqiang announced yesterday that “We don’t have a timetable” for the opening of the Shanghai-Hong Kong Stock Connect, Bloomberg reported. “Whether it’s announced today, tomorrow, the day after, two days after, or any other day, it is not important which day it is going to be announced, people shouldn’t read too much into the timing of it. The main issue is that we are prepared for the starting gun,” Li told reporters. The six-month deadline originally set during Li’s April 10 speech announcing the plan has expired, and investors are growing increasingly frustrated. The Shanghai Composite Index, which has been steadily climbing since the April announcement, saw a quick 1.9% decline following Li’s comments.