China's plans for an SME stock exchange in Beijing fuel fears of a bourse war

China's plans for an SME stock exchange in Beijing fuel fears of a bourse war

FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter/File Photo

China’s plans to launch a new exchange in Beijing, announced by President Xi Jinping on Thursday, boosted shares in Chinese brokerages but knocked down Shenzhen start-up board ChiNext and shares of Hong Kong’s bourse amid fears of rising competition.