State Street-managed Hong Kong fund to resume investment in banned shares


Source: nikkei.com

Key Topics in this News Article:

News Snapshot:

Flags are raised outside the Hong Kong Exchange Square building in Central of Hong Kong. © AP 09 (Reuters) -- One of Hong Kong’s largest exchange-traded funds (ETFs) will resume investing in stocks denied to Americans by U.S. President Donald Trump in an executive order that has caused widespread confusion among asset managers. A spokeswoman from the State Street unit that manages the Tracker Fund of Hong Kong (TraHK) said the ETF, which tracks the benchmark Hang Seng Index, is able to invest in the securities because neither it nor manager State Street Global Advisors Asia are “U.S. persons”. In...