HONG KONG -- J.P. Morgan Securities Hong Kong Ltd. acquired a seat on the Stock Exchange of Hong Kong for the purpose of trading local shares in the territory.

The J.P. Morgan & Co. unit acquired the seat in the secondary market for an undisclosed sum after nearly six months of negotiations.

J.P. morgan Securities Hong Kong managing director Tad Beczak said the acquisition was part of its plans to expand its equity business in Asia.

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