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Both banks are top backers of a China-domiciled financials exchange traded funds launch
Move coincides with flurry of measures aimed at stimulating stock market
Funds with large exposure to chipmaker saw sharp gains after news broke of Berkshire Hathaway stake
Unusually rapid move follows US decision to place export ban on semiconductor technologies
The US hedge fund’s Chinese subsidiary moved into the top 10 shareholders for three vehicles, interim reports reveal
The scheme saw also trading volume growth of more than 50% for 83 mainland China-listed vehicles
More than 80 Shanghai and Shenzhen-listed ETFs can now be traded via the northbound Stock Connect route
Bourse’s ETF trading volume last year exceeded that of all other Asian markets at $2.36tn
Assets under management in the first logistics ETF have plummeted 85 per cent since its launch in June 2021
Hang Seng index and Hang Seng Tech Index have suffered steep declines since January
Statement from the China Securities Regulatory Commission has not elaborate on timeline or other details
The launch means there are now four ETFs tracking the narrow theme, all of which listed in the past six months
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