China opened up a sort of portal between its domestic stock market and international investors on Monday, inaugurating a new link between the Hong Kong and Shanghai stock exchanges. The new Stock Connect system allows non-Chinese to directly buy and sell mainland Chinese equities for the first time, through the Hong Kong bourse, and gives authorized mainland Chinese investors their first access to the Hong Kong market.
Analysts aren't sure how this unprecedented opening of the Chinese market will play out, but on Day 1 more international investors bought shares in the Shanghai exchange than mainland Chinese bought of Hong Kong-listed stocks. Time will tell. In the meantime, you can watch officials in Honk Kong and Shanghai officially welcoming the partnership by ringing the opening gongs. --Peter Weber