Shanghai-HK stock connect on countdown  

(ECNS) – Preparation for the Shanghai-Hong Kong stock connect has entered the final stage, and a drill for brokerages will be held the weekend before the launch, according to the exchanges of the two cities.

The stock connect, also called the "through train," will allow international investors to buy stocks in Shanghai while giving mainland investors the chance to buy stocks listed in Hong Kong, paving the way for further opening up of China's capital market and renminbi globalization

Prior to the connect, direct access to mainland shares is limited to domestic investors and qualified foreign institutional investors, but with quotas.

Ceajer Ka-keung Chan, head of Hong Kong Financial Services and the Treasury Bureau, said preparation is on schedule, and that the date of the launch will be announced when all the preparation work wraps up.

On October 21, the Shanghai and Hong Kong exchanges informed brokerages of a final test run the weekend before the launch. Similar drills have been held in the mainland earlier this month, and 97 Hong Kong brokerages, which will handle over 80 percent of transactions, have passed a test in September.

Fresh speculations have arisen as the China Securities Regulatory Commission didn't announce the launch date at a press conference last Friday.

Charles Li, Chief Executive of Hong Kong Exchanges and Clearing, said authorities are likely to announce the date two weeks in advance.