Most asset managers in Hong Kong expect broader access to mainland China’s two Nasdaq-style stock markets to strengthen the city’s private wealth business, an industry survey shows, as hard-tech firms continue to attract investors despite a recent pullback.
The report, released by the Private Wealth Management Association (PWMA) and KPMG China, surveyed most of the association’s 44 institutional members, ranging from Agricultural Bank of China (Hong Kong) to UBS, as well as asset managers and senior executives in Hong Kong.
Some 91 per cent of respondents supported wider access for qualified professional investors to shares traded in Shanghai’s Star Market and Shenzhen’s ChiNext, according to the 11th annual Hong Kong Private Wealth Management report released on Thursday.