Hong Kong Exchange to buy 51% stake in Chinese financial tech firm.

Hong Kong Exchanges and Clearing, the stock exchange operator in the Asian financial hub, agreed to buy 51% stake in Ronghui Tongjin Technology, a unit of Shanghai-listed Shenzhen Kingdom Sci-Tech, in a Chinese financial technology firm’s unit to bolster the markets’ technological capabilities. Financial terms were not disclosed. “The proposed acquisition will support HKEX’s strategy to further build its financial markets’ technological capabilities, at a time of rapid change in the global exchange landscape,” said the exchange statement.