The launch date for the Shanghai-Hong Kong Stock Connect is set for November 17, the Hong Kong Exchanges and Clearing (HKEx) said on Monday, clearing uncertainty over the start of the highly anticipated cross-border trading link.
"The SFC (Securities and Futures Commission) and the CSRC (China Securities Regulatory Commission) jointly announced today that the launch of Shanghai - Hong Kong Stock Connect on 17 November 2014 (the "launch date") has been approved," HKEx wrote on its website on Monday.
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Greater China markets jumped at the start of trade on Monday; the rose 2.3 percent, while the gained 1.2 percent.
"Uncertainty has been cleared and that's definitely giving a boost to stocks this morning," Dickie Wong, executive director, Kingston Securities told CNBC.
The rules and regulations with regard to the trading link have been published, HKEx said, including "detailed operational agreements covering matters such as quota controls, trading arrangements, revenue sharing, cross-boundary cash transfers, connection of information technology systems, market surveillance and information exchange for regulatory and rule enforcement."
The so-called "through train" scheme was expected to commence operations in late-October, but faced delays as it had not received relevant approvals.
The program, a major step in China's efforts to open up its capital market, will allow foreign investors to place buy or sell orders on Shanghai's A-share market through brokers in Hong Kong. Chinese investors meanwhile will be able to use mainland brokers to invest in Hong Kong's H-share market.
The Stock Connect will be a positive catalyst for both stock markets, said Wong, but is likely to be a bigger boon for mainland equities as they are trading at a lower valuation.
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The Hang Seng will face resistance around the 24,100 level, Wong said. The Index is currently trading at the 23,991 level.
Meanwhile, he expects the Shanghai Composite will rise 5 percent in the short-term, and 10 percent before year-end.