Goldman Sachs sees $6 billion of QDII money targeting Hong Kong stocks
US banks sees financial service providers, sectors not available in the domestic market and sectors trading at cheaper valuations in Hong Kong as key beneficiaries.
Goldman Sachs has added its voice to the line-up of international investment banks that view long-term benefits accruing to the Hong Kong stock market from a series of foreign exchange liberalisation measures outlined by China last week. These were widely viewed as a key step towards the long-awaited launch of the qualified domestic institutional investor scheme.
Details of the scheme have yet to be announced and banks and insurance companies will initially only be allowed to convert renminbi for investments...
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