New Hong Kong-focused ETF gains approval in Saudi Arabia

Quick Summary:

The new ETF will track Hong Kong’s flagship Hang Seng index but will feature an adjusted stock selection to align with sharia investment rules.

In his third annual policy address last week, Hong Kong chief executive John Lee spelled out the government’s priorities for the next 12 months, which included collaborating with sovereign wealth funds from the Middle East to set up funds in the territory.

The Albilad CSOP MSCI Hong Kong China Equity ETF had already raised HK$10bn (US$1.3bn) by October 22, more than a week before its scheduled launch.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Karen Lai

Category: MarketsFinanceInvesting

Markets: United StatesChinaHong KongSaudi Arabia

Topics: Investment Seng China Csop Kong Financial Saudi Hong Hang Msci Exchange

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 05:00:08 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23345713

View Article Analysis

About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 6 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 11 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

Publisher Details

Frequently Asked Questions