Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the pending listing of the first Exchange Traded Fund (ETF) to be traded in RMB on The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEx, tomorrow (Tuesday) when Hang Seng Investment Management Limited (HSIM) lists its Hang Seng RMB Gold ETF.
The first RMB product type to list on the Exchange was debt securities in October 2010, followed by a Real Estate Investment Trust (REIT) listing in April 2011. To date, 14 RMB debt securities and one RMB REIT have been listed on the Exchange.
The Hang Seng RMB Gold ETF will be the third gold ETF listed on the Exchange and will increase its total number of listed ETFs to 91.
Hong Kong's ETF market had the second highest turnover value in Asia-Pacific in 2011 based on statistics published by the World Federation of Exchanges, with average daily turnover of over $2.2 billion.
"We are pleased to facilitate the admission to trading of the first RMB ETF," Calvin Tai, HKEx's Head of Trading, said. "We are committed to broaden RMB product offerings and develop the ETF market further based on the very successful platform we have already established. We will also be pleased to facilitate new and existing issuers to launch more products and to provide investors with additional product choices."
Investors are advised to read ETF prospectuses in full before making any investment decisions. Information on the risks of ETFs and their structures is available on the HKEx website and on the SFC website.
Ends