HKEX Signs MoUs in Kazakhstan to Boost Market Connectivity

Hong Kong Exchanges and Clearing (HKEX) announced it has signed two memoranda of understanding in Kazakhstan to enhance market connectivity with Central Asia. The agreements were part of a larger delegation visit to Kazakhstan, where a total of 43 agreements were signed. According to RTHK, one agreement is with the Astana International Exchange (AIX), which operates within the Astana International Financial Centre (AIFC). This agreement aims to expand cross-border listing opportunities and dual listings in equities and debt securities. The second agreement is with the AIFC Authority, focusing on cooperation in climate transition, decarbonisation, green finance, sustainable aviation projects, commodities trading, and financing early-stage mining projects. HKEX CEO Bonnie Chan expressed enthusiasm about the agreements, stating they would "unlock new opportunities" for global issuers and investors, and strengthen Hong Kong's role as a market connector between the city and Central Asia. Chan highlighted the potential for Kazakh enterprises to raise funds in Hong Kong and noted that many mainland companies have already established businesses in Kazakhstan, using funds raised in Hong Kong to expand in Central Asia. Bakhtiyar Tleubekov, chairman of the AIFC Authority, emphasized the importance of the collaboration in enhancing connectivity between Central Asia and Asia-Pacific. Astana International Exchange CEO Assel Mukazhanova also noted the potential for facilitating cross-border capital flows.