-Hang Seng Bank launches yuan denominated gold ETF.
Global Banking News - 30 January 2012
Hong Kong's Hang Seng Bank Limited (0011.HK) (OTC: HSNGY) is planning to launch the country's first yuan-denominated gold exchange-traded fund (ETF) in the coming weeks.
The proposed fund will be the first yuan-denominated ETF in Hong Kong, Hang Seng Bank said in a statement, adding that the ETF will be listed on the Hong Kong Stock Exchange in February.
The ETF, which will provide the returns in yuan, will monitor the performance of the London Gold Fixing Price in US dollars.
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