SHANGHAI—China’s plans to launch a new exchange in Beijing, announced by Chinese leader 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.
Although China’s securities regulator said the planned Beijing stock exchange is based on the city’s existing New Third Board, and complements Shanghai and Shenzhen bourses, some fear a rivalry for listing resources is inevitable.
