Shanghai mayor says work underway on Hong Kong stock-trading link

By Brenda Goh SHANGHAI (Reuters) - Shanghai's mayor said "initial preparations" were underway to enable global investors to trade Shanghai-listed Chinese shares via the Hong Kong exchange, asking investors to be patient after the trading scheme missed its launch date. Mayor Yang Xiong said on Sunday that preparations were critical “because once it comes online, no error will be tolerated”. He did not provide a new target data for the stock connect link between the two exchanges, which has been seen as a milestone in the liberalization of China's capital markets. “It’s a decision to be made by the regulators. Just be a little bit more patient. It will eventually be launched,” the mayor told reporters on the sidelines of a conference. The trading link had initially been expected to go live on Oct. 27, but the exchanges said they had not received regulatory approval. China's securities regulator on Thursday said the stock connect scheme was in its "final stage", according to an online report by Shanghai Securities News. On Wednesday, Hong Kong stock market watchdog chief Ashley Alder said his agency had completed all regulatory steps needed for the launch. (editing by Jane Baird)