Finam will provide investors with access to trading on the exchanges of mainland China
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Finam will be the first Russian broker to provide qualified investors from the Russian Federation with access to trading on the stock exchanges of mainland China, Vladislav Kochetkov, President and Chairman of the Board of the holding, said. According to him, in the future Finam intends to enter the Indonesian stock market.
“We will issue Chinese government and corporate bonds by the end of June. Everything is already ready there, there are some small internal formalities left, shares – until the end of summer… To buy yuan securities, you can get yuan, you can use rubles, which will be converted into yuan; transactions will take place in yuan,” he told RIA Novosti on the sidelines of the St. Petersburg International Economic Forum.
As Mr. Kochetkov clarified, several Russian brokerage companies are already listed on the Hong Kong Stock Exchange. “In mainland China, the main sites are Shanghai, Shenzhen, where we will be the first. There is a model according to which the over-the-counter market allows you to buy Chinese securities, and we give access to exchange trading first,” he explained.
He did not give a timeline for entering the Indonesian market, but said “it’s one of the cheap markets.” “If we take Asian sites, then the capitalization of Indonesian companies in terms of multipliers is two to three times lower than that of Indian ones, and three to five times lower than that of Chinese ones. Accordingly, there is a good potential for long-term investments to make money,” added the Finam president.
In the first quarter of 2023, the assets of non-residents on the brokerage accounts of Russian brokers increased by 35%, to RUB 863 billion. The main growth was in the accounts of legal entities, the assets of companies from the UAE, the Virgin and Cayman Islands increased by four to eight times. These jurisdictions can be used by Russian companies and individuals for the repatriation of capital from unfriendly countries to Russia, servicing foreign assets, and operations within the framework of foreign economic activity.
Details – in the material “Kommersant” “Capital is returning to the Russian Federation”.
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