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Shanghai-Hong Kong Stock Market Link Begins Operation

Hong Kong Exchanges and Clearing Ltd. Chairman Chow Chung-kong, left, and Hong Kong Chief Executive Leung Chun-ying pose before beating a gong during the launch ceremony of the Shanghai-Hong Kong Stock Connect in Hong Kong Monday, Nov. 17, 2014.

Buying and selling has begun on a landmark trading link between the Hong Kong and Shanghai stock exchanges, which will give foreign investors greater access to China's tightly controlled stock market.

At an opening ceremony Monday, C.K. Chow, the chairman of Hong Kong's stock exchange, called the link "a breakthrough in the opening up of China's financial market."

For the first time, what is being called the Shanghai-Hong Kong Stock Connect allows international investors to trade selected stocks on Shanghai's tightly restricted exchange and lets Chinese investors buy shares outside of the mainland for the first time.

Financial analysts say the cross-border trading is expected to amount to $3.8 billion a day.