Connect with us


Hong Kong fund managed by State Street to resume investments in banned stocks




HONG KONG (Reuters) – One of Hong Kong’s largest exchange-traded funds (ETFs) to resume investing in stocks denied to Americans by US President Donald Trump in an executive order that has confused managers of active.

A spokeswoman for the State Street Corp 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 stocks because neither he nor the manager State Street Global Advisors Asia is American. people.

In a trade brief on Wednesday, TraHK said it would resume buying the shares on Thursday.

This marked a reversal from an exchange deposit three days earlier, in which the fund said it would no longer invest in sanctioned securities on a list compiled by the US Department of the Treasury, Office of Foreign Assets Control (OFAC).

OFAC’s list is linked to the November order banning Americans from investing in Chinese securities that the United States considers to have ties to the Chinese military, effective Monday.

Hong Kong-listed shares of telecommunications companies China Mobile and China Unicom are on the OFAC list and are included in the Hang Seng Index.

The New York Stock Exchange turned twice in seven days last week amid uncertainty over whether US-listed shares in the two companies and China Telecom were covered by the executive order.

He first said he would withdraw the U.S. certificates of deposit from all three entities, then he would keep them listed, citing a clarification from OFAC, before finally confirming that he would withdraw them.

TraHK’s initial decision to stop investing in the banned securities angered some investors, who feared the fund would be unable to effectively track the benchmark.

Some have called for State Street to be replaced as director with a company that could invest in the stocks.

Hong Kong leader Carrie Lam said at a press conference on Tuesday that the executive order reflected a kind of American hegemony.

TraHK, which is popular with retail investors and Hong Kong pension funds, was established in 1998 by the Hong Kong government to sell stocks it had bought during market interventions during the Asian financial crisis. . It was listed in 1999.

Reporting by Alun John; Additional reporting by Clare Jim; Edited by Chizu Nomiyama and David Goodman

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]