BEIJING – Two exchange-traded funds (ETFs) tracking Saudi Arabian shares extended their gains on Wednesday after launch on the Chinese mainland bourses just one day earlier, highlighting the wider opening-up of China’s capital market.
The ETFs, managed by Huatai-PineBridge Investments and Southern Asset Management, respectively, offer Chinese investors an option to broaden their investment portfolio by trading equities in the Middle Eastern state.
Both funds, tracking the FTSE Saudi Arabia Index which covers over 50 medium and large-sized firms, opened on a high note Wednesday and rose by the daily limit of 10 percent during the morning trading session,…
