“NSE ALLOWS CHINA, HONG KONG TRADING FROM MARCH 18”

Mumbai: Indian investors will now be able to take exposure to Chinese and Hong Kong markets by trading in an exchange-traded fund (ETF) that tracks the Hang Seng index. The Hang Seng Benchmark Exchange Traded Fund (Hang Seng BeES) will be listed on the National Stock Exchange (NSE) from March 18. Some of the leading companies in the index are Bank of China, China Life Insurance Company, China Mobile, Petro China and CNOOC. These five alone have a weight of over 25 percent in the index. "We have raised around Rs 55 crore in the fund from retail and institutional investors," said Rajan Mehta, Executive Director, Benchmark Mutual Fund, the fund house which is launching the index. The fund was open for public subscription between February 15 and 24. According to NSE, the issue price for each unit of Hang Seng BeES has been fixed at Rs. 1,238.89.