Tencent Files For Dual Counter Trading To Boost Liquidity, Price Efficiency

On March 31, Tencent Holdings Ltd 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.
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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 AAGIY have also applied for a dual currency counter.
Price Action: TCEHY shares closed higher by 1.28% at $49.92 on Thursday.