Reuters, Bloomberg miss out on Beijing stock exchange trading as traders seek live feed from rival data providers
Thomson Reuters Corp and Bloomberg, the two biggest financial data providers, missed out on the excitement of first-day trading in Beijing as China added a new stock exchange to its US$12.4 trillion capital market.
Reuters’ Eikon and Bloomberg services did not transmit live pricing when 81 companies began trading on the Beijing Stock Exchange on Monday, according to some onshore traders.
That is a source of irritation for investors, particularly foreign funds with onshore investing quotas, who had to turn to rival local information providers like Wind Info and Shanghai DZH for trading data.
Bloomberg’s data and programming teams are working to make the data available on its trading terminal by late December, according to a note to one of its bank subscribers seen by the Post. Reuters did not immediately respond to a request for comment.
About three quarters of the 81 companies made a winning debut, with gains ranging from 0.2 per cent to 494 per cent, before the rally eventually faded. At the close of trading, 19 stocks had risen and 59 fallen while three had been halted for unknown reasons.
President Xi Jinping announced the formation of the Beijing exchange two months ago, an attempt to hand a financial lifeline to the nation’s private enterprises. China established the bourses in Shanghai and Shenzhen in 1990 as part of its capital market reforms.
The Beijing exchange differentiates itself from the Star Market in Shanghai and the ChiNext board operated by the Shenzhen bourse by targeting smaller companies in early-stage development.
Its presence in China’s northern Bohai Rim provides a regional balance against the Yangtze Delta and Pearl River Delta in the southern part of the country where the Shanghai and Shenzhen exchanges are based, according to Invesco.
Author: Zhang Shidong, SCMP