Wed Nov 28 2012
Hong Kong Exchanges and Clearing
Limited announced Tuesday that three precious metals- related Exchange Traded
Funds will be listed on the Stock Exchange of Hong Kong Limited Wednesday,
including the Exchange's first silver and platinum ETFs. According to HKEx, the
ETFs will be the first three launched by ETF Securities (Hong Kong) Limited on
the Exchange, a wholly-owned subsidiary of HKEx. All three ETFs - ETFS Physical
Gold ETF, ETFS Physical Silver ETF and ETFS Physical Platinum ETF are designed
to track the London benchmark prices of the respective metals.
The ETFS Physical Gold ETF will
be the Exchange's fourth gold ETF. The total number of ETFs will increase to
100 and the number of ETF managers will increase to 21.
"We are pleased to welcome
ETF Securities and their three commodity ETFs to the Hong Kong ETF market"
said Calvin Tai, Head of Trading at HKEx.
"The introduction of the
first ETFs on silver and platinum will further enrich our product offerings in
precious metals. These three new ETFs are also in line with our corporate
strategy to diversify by adding asset classes to our equities and equities-
related products."
This has been a record year for the Hong Kong ETF market, with the launch of 35 new ETFs, including the three to be listed, the first renminbi ETFs, the first renminbi Qualified Foreign Institutional Investors, or RQFII, A-share ETFs and the first dual counter ETFs trading in both renminbi and Hong Kong dollars.
Source: www.chinadaily.com.cn