Skip to content Skip to Search
Skip navigation

Saudi exchange-traded fund to list in Hong Kong

By Pramod Kumar
Investors will be able to trade the constituent stocks of the Saudi stock market directly in the Hong Kong market Reuters/Ahmed Yosri
Investors will be able to trade the constituent stocks of the Saudi stock market directly in the Hong Kong market

Saudi Arabia’s exchange-traded fund (ETF) will be listed on the Hong Kong stock exchange tomorrow.

Investors will be able to trade the constituent stocks of the Saudi stock market directly in the Hong Kong market through the ETF in Hong Kong dollars or renminbi, state-owned Xinhua news agency reported, citing Paul Chan, financial secretary of the Hong Kong Special Administrative Region government.

The Saudi ETF has the “largest assets of its kind in the world”, including oil major Saudi Aramco, the report said.

The Hong Kong Exchanges and Clearing Limited has added the Saudi Exchange (Tadawul) and Indonesian Stock Exchange as recognised stock exchanges in the past two months, Chan said.

The move allows the dual listing of companies of the two exchanges on the Hong Kong bourse.

Tadawul will offer large energy, industrial and medical sectors in the Middle East, while the Indonesia Stock Exchange is a fund-raising location for high-quality and innovative enterprises in Southeast Asia, the official added.

Latest articles

Wind turbines in Bozcaada, Turkey. The country wants to strengthen its renewable energy sector by developing the solar power market

Turkey’s renewables scheme given $1bn by World Bank

The World Bank has signed a $1 billion programme with Turkey to fast-track the nation’s renewable energy expansion initiatives. The financing comprises €600 million ($657 million) in loans from the International Bank of Reconstruction and Development, $30 million from the clean technology fund, and $3 million in grant funding from the World Bank’s energy sector management assistance […]

Mark Foster, who played professional rugby for Gloucester and now heads LIV Golf, says the sport is ripe for investment

LIV Golf chief says rugby next in line for Gulf funds

Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […]

Dubai mall Lamcy Plaza

Fire-hit Dubai shopping mall fails to attract auction bids

A Dubai shopping mall closed since a fire in 2017 has failed to attract interest from potential buyers after being put up for auction. The Lamcy Plaza mall went on auction earlier this month with a starting bid of AED200 million ($54 million), but received no offers. The five-storey neighbourhood mall, which opened in 1997, […]

Emirates Nigeria

Emirates to resume Nigeria service from October

Emirates will restart services to Nigeria from October 1, after suspending flights on the route for almost two years. The Dubai airline will operate a daily service to  Lagos, Nigeria’s largest city.  “We are excited to resume our services to Nigeria,” said Adnan Kazim, deputy president and chief commercial officer, Emirates.  “We thank the Nigerian government for their partnership and support in re-establishing this […]