CSOP CSI STAR, CHINEXT 50 Index ETF listed on Singapore Exchange

KUALA LUMPUR, Jan 3 (Bernama) -- Asia’s leading ETF issuer, CSOP Asset Management Ltd (CSOP) is proud to be among the first to participate in the Singapore Exchange (SGX)and the Shenzhen Stock Exchange (SZSE) exchange-traded fund (ETF) link.

Under the ETF link, CSOP CSI STAR and CHINEXT 50 Index ETF (Stock Code: SCY) is listed on the SGX as a feeder fund of China Southern CSI STAR and CHINEXT 50 ETF, which is listed on SZSE, on Dec 30, 2022.

CSOP said the listing has unlocked unique investment opportunities into 50 Chinese companies with the highest growth potential in ChiNext and China's Nasdaq-style ShanghaiStock Exchange Science and Technology Innovation Board (STAR Market).

“SCY is traded in SGD at an initial price of SGD1 (SGD1=RM3.27) with a board lot size of one unit,” it said in a statement.

Chief executive officer, Ding Chen said the SZSE - SGX ETF cross-listing will greatly enrich the cross-border product offering and investment channels and meet the growing needs of Singapore and Chinese investors seeking more diversified investment solutions.

“Participation in the ETF link scheme is a milestone for CSOP’s development in Singapore and we hope the scheme can benefit both markets’ investors,” she said.

SCY tracks 50 fast-growing star performers with hard technology from the STAR and ChiNext Markets from SZSE.

The stocks listed on STAR and SZSE’s ChiNext boards represent key breakthroughs with high market recognition in China.

The SZSE-SGX ETF link was established under the auspices of the 17th China-Singapore Joint Council for Bilateral Cooperation as a new initiative to expand and strengthen financial cooperation between Singapore and China.

The SZSE and SGX Group entered a Memorandum of Understanding on Dec 28, 2021 to facilitate China and Singapore ETF issuers to access cross-border capital flows through the listing of ETFs that feed into master ETFs listed on the other exchange.

According to CSOP, the listing of CSOP CSI STAR and CHINEXT 50 Index ETF on SGX and China Southern CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF on SZSEsignifi es the deepening financial connection between China and Singapore, providing investors more diversified investment opportunities.

-- BERNAMA