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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.

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