Asia's First ETF Tracking Saudi Equities Debuts in Hong Kong

Managed by CSOP Asset Management, the ETF is backed by Saudi sovereign wealth fund and allows trading of Saudi stocks in Hong Kong dollars or Chinese yuan.

Asia's first exchange-traded fund (ETF) tracking Saudi equities, managed by Hong Kong-based CSOP Asset Management, debuted in Hong Kong.
The ETF, named CSOP Saudi Arabia ETF, is backed by the Saudi sovereign wealth fund, Public Investment Fund (PIF), as an anchor investor.
The fund tracks the FTSE Saudi Arabia Index, whose 56 constituents' total market value reached $276.8 billion at the end of October.
Investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco and the Saudi National Bank in Hong Kong dollars or Chinese yuan through the ETF.
The ETF launch is part of China's efforts to expand ties with countries in Europe, the Middle East and Africa, including Saudi Arabia, which is China's top trading partner with trade worth $87.3 billion in 2021.