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Taiwan regulator approves HSBC to sell two ETFs.

Global Banking News-30 July 2009-Taiwan regulator approves HSBC to sell two ETFs(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 30 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

HSBC Global Asset Management (Taiwan) Limited, a unit of HSBC Holdings Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005) has been approved to sell two exchange-traded funds in Taiwan that track the Hang Seng Index and the Hang Seng H-Share Index, Dow Jones has reported, citing Financial Supervisory Commission.

The ETFs, which will be denominated in the New Taiwan dollar, have yet to be approved by the Taiwan Stock Exchange and the island's central bank, the report said citing an official at Taiwan's Securities and Futures Bureau.

The ETFs will be the latest to be sold to Taiwanese investors following an agreement in May between Taiwan and Hong Kong to allow dual listings of ETFs on exchanges in both territories.

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Publication:Global Banking News (GBN)
Date:Jul 30, 2009
Words:176
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