A trading link that opened up Shanghai’s stock market to overseas investors has struggled to live up to expectations, with only one-third of the total quota of shares used up since its November inauguration, as fund managers say the program was rolled out too quickly.

The Shanghai-Hong Kong Stock Connect, announced by China's premier in April, was billed as a landmark program amid hopes that an influx of foreign cash would help the country's stock markets mature. Investment firms, however, said the seven-month period to prepare for its November 17 debut wasn't long enough, with many details worked out only at the last minute.