HK Stock Market Move | Link (00823) rose more than 6% during trading session. REITs are expected to be included in Shanghai-Hong Kong Stock Connect. Link recently launched fund management business.

Link (00823) rose by more than 6% in intraday trading, and as of the time of writing, it was up by 5.61% to HK$39.55 with a turnover of HK$1.06 billion. On the news front, the State Council Information Office held a press conference today on the "comprehensive financial policy to support the stability of the market and expectations." Wu Qing, Chairman of the China Securities Regulatory Commission, mentioned deepening the opening of the exchange bond market to foreign investors and including REITs in the Shanghai-Hong Kong Stock Connect. It is reported that Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, stated in March this year that REITs would be included in the Shanghai-Hong Kong Stock Connect and RMB stock trading counters would be included in the Hong Kong Stock Connect this year. UBS previously released a research report stating that the potential launch of REITs in the Shanghai-Hong Kong Stock Connect could have a positive impact on Link. In addition, Link recently announced the appointment of Steven Bass as Head of Investment for its private equity business LREP Japan, to drive business expansion in Japan. It is reported that Link established a private equity fund management platform in February, marking its diversification of income sources and expansion of asset management business under the "Link 3.0" strategy. HSBC also stated that any significant progress in Link's fund management business or the real estate investment trust (REIT) interconnection mechanism could serve as a catalyst for its stock price.