Hong Kong Exchanges and Clearing (HKG:0388) plans to open an office in Riyadh later this year, The Standard reported, citing HKEX Chief Executive Bonnie Chan Yi-ting.
The move reflects deepening cooperation between Hong Kong and Saudi Arabia across business, finance, and tourism sectors, the report said.
Chan noted strong enthusiasm for partnerships and growing interest in opportunities related to China, following her recent visit to the Middle East, according to The Standard.
The report added that the largest Saudi-focused exchange-traded fund, launched in Hong Kong 18 months ago, now manages about HK$10 billion in assets.
Since then, Saudi Arabia has introduced two Hong Kong-focused ETFs, with Thursday seeing the debut of the first Saudi Arabia government Sukuk ETF on the Hong Kong bourse.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.