Hong Kong and Saudi Arabia launch an ETF tracking Hong Kong's benchmark stock index, deepening their financial connections.
Hong Kong and Saudi Arabia are deepening their financial connections through the launch of an exchange-traded fund (ETF) that will track Hong Kong's benchmark stock index, exposing Middle East investors to the corporate earnings and capital growth in China and Hong Kong. This development follows a flurry of collaborations and accords between Hong Kong and Riyadh since February 2023, including agreements on fintech, cross-listings, and disclosure standards for environment, sustainability, and governance. Cathay Pacific Airways is also expected to resume direct passenger flights between Hong Kong and Riyadh, reducing future travel time to six hours.
May 09, 2024
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