Brexit Delays London-Hong Kong Commodities Link: HKEx
HONG KONG,(UrduPoint / Pakistan Point News - 21st july,2016) - A planned link between commodities markets in London and Hong Kong has been put on hold because of the "uncertainty" caused by Britain's vote to leave the European Union, the head of Hong Kong's stock exchange said.
Charles Li, chief executive of Hong Kong Exchanges and Clearing (HKEx), wrote in a blog post that before the plan can be taken any further there must be more clarity over the outcome of regulatory talks between Europe and Britain following the shock vote. "With Britain withdrawing from the EU, there is some uncertainty about the policy developments in the UK.
Therefore, we will wait and monitor the development of the UK and Europe's regulatory policy before making further plans to connect the commodities markets in London and Hong Kong," Li wrote late Wednesday.