Through Train expanded to include new shares

The Shanghai-Hong Kong Stock Connect mutual market access programme has expanded to include primary issuance, to the delight of market participants in the two cities.

Shanghai Stock Exchange said on Friday that Hong Kong investors would be allowed to buy rights issues offered by Shanghai-listed companies, while mainland investors will be able to buy rights issues and other public placements in Hong Kong. The exchange did not specify whether initial public offerings will be included, but such offerings were specifically excluded in an earlier explanation issued by the Hong Kong exchange.

This decision to open the primary market reverses the initial idea clarified in the...