Hong Kong exchange dual counter trading application by Tencent

Tencent building
Image: Reuters

Tencent Holdings Ltd said on Friday that it has submitted an application to the Hong Kong Stock Exchange for a dual currency counter.

If approved, this would enable the company’s shares to be traded in both the Hong Kong dollar and the yuan.

The bourse made the announcement back in December that they would be switching to a new trading structure called dual counter trading commencing in the first half of 2023.

AIA Group Ltd, a Hong Kong-listed company that specializes in providing insurance, is just one of numerous companies that have approached the Hong Kong exchange with a request for a dual currency counter.

In a statement made earlier this month, the operator of the Hong Kong market said that the launch of the dual currency counter is part of an attempt to further promote the internationalization of the Chinese yuan.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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