ETPs boosting stock market: Paul Chan
Financial Secretary Paul Chan says ETPs provide more choices for investors as they are linked to different kinds of assets. File photo: RTHK
Financial Secretary Paul Chan says Exchange Traded Products (ETPs) have contributed to the improving performance of the stock market in the first half of the year.
Writing on his blog on Sunday, the minister said there are more than 210 ETPs listed on the local bourse and their combined market value of nearly HK$510 billion is up 30 percent from 2020.
Chan said ETPs provide more choices for investors as they are linked to different kinds of assets.
Chan also said the city's IPO performance is currently the best in the world, with more than HK$107 billion raised so far this year. Hong Kong Exchanges and Clearing has also received another 200 listing applications from Middle East and Southeast Asian enterprises.
The finance chief added that the government will step up promotion of the local financial market, so worldwide investors understand Hong Kong's advantages and potential.
Chan will head to Seoul this week to tell South Korean investors and financial institutions about the latest developments of the Hong Kong market.
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