Markets Saudi exchange-traded fund to list in Hong Kong By Pramod Kumar November 28, 2023, 5:17 AM 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. Foreign investment in Saudi capital market reaches $93bn Saudi Arabia’s stock market cap rises 5% to $3 trillion Tadawul and DFM are overvalued, data shows 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. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
