- On March 31, Tencent Holdings Ltd (OTC:TCEHY) applied to add an RMB counter to support the HKD-RMB dual counter model by the Hong Kong stock exchange.
- The HKD-RMB dual counter model will enable liquidity and price efficiency for RMB-denominated shares and expand the trading channels for shareholders and potential investors.
- Also Read: Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down
- In December, the stock exchange disclosed plans to introduce a new dual counter trading model from the first half of 2023, Reuters reports.
- The dual currency counter will further advance the internationalization of the Chinese yuan, the Hong Kong bourse operator said earlier this month.
- Hong Kong-listed companies like insurer AIA Group, Ltd (OTC:AAGIY) have also applied for a dual currency counter.
- Price Action: TCEHY shares closed higher by 1.28% at $49.92 on Thursday.
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