Nomura eyes China share trade
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China is allowing some overseas investors to trade in A shares.
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TOKYO, Japan (Reuters) -- Japan's biggest brokerage, Nomura Securities Co, has filed an application with the Chinese authorities to trade in yuan-denominated A shares on the Chinese stock exchanges, the Nihon Keizai Shimbun reported on Tuesday.
Nomura, a unit of Nomura Holdings, would be Japan's first brokerage to seek such approval following Beijing's partial deregulation last December allowing certain overseas institutional investors to trade in the yuan-denominated stocks.
The business newspaper said Nomura filed the application with the China Securities Regulatory Commission on Monday.
No one at the brokerage was immediately available for comment.
If approved, Nomura will be able to trade in A shares, government bonds, corporate bonds, convertible corporate bonds and other instruments listed on the Shanghai and Shenzhen stock exchanges, the paper said.
It said Nomura Securities will set an investment framework of over $50 million.
Nomura will initially manage yuan-denominated instruments in its own account, but is considering expanding the business into investment trust products containing A shares, the paper said.
Approval could be granted within 30 business days, it added.
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