Affin hwang am lists new china etf on bursa – my stock 118

Affin Hwang AM managing director Teng Chee Wai ( pix) said since the listing of its first ETF (TradePlus Shariah Gold Tracker) on Bursa in 2017, it is proud to roll out its next passive investment offering to the market in quick succession. This would enhance its overall product suite and bolster its position in the passive investment space as a full-fledged asset management player.

“Through this fund, local investors will be able to participate in one of the biggest investment themes globally as we witness China’s seismic shift from an investment-driven economy that was centred primarily on infrastructure & manufacturing to a more knowledge-driven economy that is focused on research & development (R&D) and innovation,” Teng said in a statement.

On the market outlook for China, he said it has seen some softness in Chinese data that shows its manufacturing sector experiencing some slowdown as a result of the trade conflict. Though, recent stimulus measures announced by Beijing to prop-up growth and cushion the impact from its ongoing trade spat with the US has provided some reprieve for markets and inject liquidity.

“Over the long-term, as China presses on with its economic restructuring and deleveraging exercise to rein-in credit risk, we see positive structural trends that would bode well for China. Its services and consumption sector now constitute more than 60% of contribution to GDP growth and is expected to increase exponentially with rising income levels and rapid urbanisation in the country. As China continues to harness these strengths, we see opportunities emerging from the New China and the various sectors riding on these positive consumption trends,” Teng said.

Units of the fund starts trading today on Bursa Securities under its stock short name CHINAETF-MYR for the ringgit quoted units, and CHINAETF-USD for the US dollar quoted units, making the fund the first Malaysian-listed ETF to be listed in dual currencies. Investors can buy and sell units throughout the trading day like any other publicly-traded shares, with a minimum board lot size of 100 units. The fund was launched at an initial issue price of HK$10.00 per unit.

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