Eight ETFs List in Hong Kong, Broadening Mainland Chinese Investors' Access to Overseas Assets
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Eight exchange-traded funds offering investment exposure to South Korean semiconductor makers, U.S. technology companies and Malaysian large-cap stocks listed in Hong Kong on the 28th. The move comes as Chinese authorities widen channels for mainland investors to access overseas assets, against a backdrop of a sluggish domestic market that has fueled demand for diversification and intensified pressure from capital outflows. The ETFs track cross-market indexes of Hong Kong Exchanges and Clearing, and most of them provide exposure to both the Hong Kong market and overseas markets. HKEX said, "We are building an ecosystem that allows global investors to access the best investment opportunities in this region and beyond, and the development of our index business is very much part of that," adding that it will continue to actively expand its index business.