The W.I.S.E. SSE 50 China Tracker exchange traded fund (ETF), which tracks 50 stocks listed in Shanghai, is scheduled to be listed on the nation’s main bourse on today, the Taiwan Stock Exchange Corp (TWSE, 台灣證交所) said on Thursday.
The SSE 50 China Tracker fund was registered in Hong Kong in April last year and has been listed on the Hong Kong Stock Exchange, with BOCI-Prudential Asset Management Ltd (中銀保誠資產管理) serving as the fund’s manager. Taiwan-based KGI Securities Investment Trust Co (凱基投信) has been appointed as a trustee of the fund.
With the listing, the new fund will become the 15th ETF and the third offshore ETF to be listed on the TWSE. The first two offshore ETFs on the main bourse were the Hang Seng H-Share Index ETF and Heng Seng Index ETF.
The fund will be the first foreign ETF in the nation to track the performance of the 50 largest cap A-shares listed on the Shanghai Stock Exchange. The 50 stocks are the constituents of the SSE 50 Index, which is the largest and most liquid index launched by the Shanghai Stock Exchange, TWSE said.
As the 50 stocks account for more than 70 percent of the Shanghai Stock Exchange’s capitalization, they generally reflect the operations of the bellwether and most influential enterprises listed in the Shanghai stock market, it added.
The 10 largest stocks in the fund include Ping An Insurance Group Co of China Ltd (中國平安保險), China Merchants Bank Co (招商銀行), Bank of Communications Co (交通銀行), China Minsheng Banking Corp (民生銀行), Industrial Bank Co (興業銀行) and CITIC Securities Co (中信證券).
There will be no 7 percent daily upward and downward limits for the fund on the local bourse as required for other stocks because the stock has been listed in Hong Kong, where there are no such limitations.
CAUTIOUS RECOVERY: While the manufacturing sector returned to growth amid the US-China trade truce, firms remain wary as uncertainty clouds the outlook, the CIER said The local manufacturing sector returned to expansion last month, as the official purchasing managers’ index (PMI) rose 2.1 points to 51.0, driven by a temporary easing in US-China trade tensions, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The PMI gauges the health of the manufacturing industry, with readings above 50 indicating expansion and those below 50 signaling contraction. “Firms are not as pessimistic as they were in April, but they remain far from optimistic,” CIER president Lien Hsien-ming (連賢明) said at a news conference. The full impact of US tariff decisions is unlikely to become clear until later this month
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
CHIP DUTIES: TSMC said it voiced its concerns to Washington about tariffs, telling the US commerce department that it wants ‘fair treatment’ to protect its competitiveness Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reiterated robust business prospects for this year as strong artificial intelligence (AI) chip demand from Nvidia Corp and other customers would absorb the impacts of US tariffs. “The impact of tariffs would be indirect, as the custom tax is the importers’ responsibility, not the exporters,” TSMC chairman and chief executive officer C.C. Wei (魏哲家) said at the chipmaker’s annual shareholders’ meeting in Hsinchu City. TSMC’s business could be affected if people become reluctant to buy electronics due to inflated prices, Wei said. In addition, the chipmaker has voiced its concern to the US Department of Commerce
STILL LOADED: Last year’s richest person, Quanta Computer Inc chairman Barry Lam, dropped to second place despite an 8 percent increase in his wealth to US$12.6 billion Staff writer, with CNA Daniel Tsai (蔡明忠) and Richard Tsai (蔡明興), the brothers who run Fubon Group (富邦集團), topped the Forbes list of Taiwan’s 50 richest people this year, released on Wednesday in New York. The magazine said that a stronger New Taiwan dollar pushed the combined wealth of Taiwan’s 50 richest people up 13 percent, from US$174 billion to US$197 billion, with 36 of the people on the list seeing their wealth increase. That came as Taiwan’s economy grew 4.6 percent last year, its fastest pace in three years, driven by the strong performance of the semiconductor industry, the magazine said. The Tsai
RSS