China stocks fall on 1st day of Hong Kong-Shanghai direct link
SHANGHAI Nov 17 (Reuters) - China stocks ended slightly lower as profit-taking pressures offset the first buying by foreign investors through a landmark Hong Kong-Shanghai trading link that debuted on Monday.
The Shanghai Composite Index ended down 0.2 percent to 2,475.1 points, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.5 percent.
All of the daily 13 billion yuan ($2.12 billion) "northbound" quota - limiting how much Hong Kong-based investors can buy in Shanghai - had been used by mid-afternoon trading. Only around 16 percent of the 10.5 billion yuan "southbound" quota was taken up.
The so-called Stock Connect scheme gives foreign and Chinese retail investors unprecedented access to each of the two exchanges, which some analysts said could eventually lead to the creation of the world's third largest stock bourse.
The expected fund inflow had helped push the SSE180 Index and the SSE380 Index - the two main Chinese destinations for foreign investment prior to the Connect scheme - up more than 10 percent and 6.5 percent since late last month. (1 US dollar = 6.1250 Chinese yuan) (Reporting by Shanghai Newsroom and Kazunori Takada; Editing by Richard Borsuk)
© Thomson Reuters 2016 All rights reserved.