Russia's No.2 bourse SPB to include 35 more Chinese shares

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Feb 6 (Reuters) - SPB Exchange SPBE.MM, Russia's second-largest bourse, said on Monday that it would include an additional 35 Chinese shares to trading, bringing the number of Chinese companies offered on its exchange to 115.

"SPB Exchange will provide access to shares in companies from 17 new sectors in China, with the total number of sectors represented increasing to 64," the bourse said.

The shares in question are listed on the Hong Kong Stock Exchange and include energy firms and manufacturing companies.

Western sanctions over the conflict in Ukraine have made it difficult for Russians to invest in foreign stocks, with Russian bourses increasingly looking to Chinese equities as a more accessible alternative.

Moscow has repeatedly expressed an interest in deepening economic and political ties with China and has said that it aims to reach its target of $200 billion worth of trade with Beijing ahead of schedule.

SPB last year said it hoped to offer trading in companies listed in Uzbekistan, India, Brazil, Mexico, South Africa and other developing countries.

(Reporting by Reuters; writing by Caleb Davis; editing by Jason Neely)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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