HK Stock Market Move | MEITUAN-WR (83690) rose more than 9%, leading the RMB dual counter stocks. Secretary for Financial Services and the Treasury Christopher Hui said that RMB dual counter stocks are being incorporated into the Hong Kong stock market at full speed.

The RMB dual counter stock rose in the afternoon, as of the deadline, MEITUAN-WR (83690) rose by 9.39% to 162 Hong Kong dollars; JD-SWR (89618) rose by 8.78% to 157.4 Hong Kong dollars; BABA-WR (89988) rose by 5.73% to 129.2 Hong Kong dollars; HKEX-R (80388) rose by 4.11% to 334.2 Hong Kong dollars. On the news front, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan Mo-po, stated today that in order to promote more stocks to be traded in RMB and enhance market liquidity, the mainland and Hong Kong are currently working on implementing RMB trading counters into the Stock Connect, and are proceeding with technical preparations at full speed. In addition, HKEX is advancing the arrangement of single-stock multi-counter, including allowing dual-counter stocks to use the same international securities identification number to enhance trading and settlement efficiency. The SAR government has also begun preparing for RMB counter trading to be subject to RMB-denominated stock stamp duty and hopes to propose legislative suggestions next year.