Latest news with #TadawulGroup
The Star
5 days ago
- Business
- The Star
Hong Kong, Saudi Arabia may approve more cross-border financial products
HONG KONG/SYDNEY: Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products - such as a sharia-compliant Sukuk bond and a real estate investment trust - are "in the pipeline" for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. "We're very comfortable in the cross listing of whatever products," Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's Financial Secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after U.S. President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A U.S. trade court on Wednesday blocked the tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the U.S. court block, Chan said the move would "at least bring President Trump to reason". - Reuters
CNBC
5 days ago
- Business
- CNBC
Hong Kong Financial Secretary says U.S. court order on Trump's 'reciprocal' tariffs will bring him 'to reason'
Hong Kong Financial Secretary Paul Chan said that a U.S. federal trade court decision to strike down President Donald Trump's worldwide reciprocal tariffs would "at least bring President Trump to reason." Chan also commented about de-dollarization trend and what it means for the Hong Kong dollar, in response to a question by CNBC's Emily Chan at the Capital Markets Forum fireside chat organized by Saudi exchange operator Tadawul Group.
Zawya
5 days ago
- Business
- Zawya
Hong Kong, Saudi Arabia may approve more cross-border financial products
HONG KONG/SYDNEY - Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products - such as a sharia-compliant Sukuk bond and a real estate investment trust - are "in the pipeline" for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. "We're very comfortable in the cross listing of whatever products," Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's Financial Secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after U.S. President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A U.S. trade court on Wednesday blocked the tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the U.S. court block, Chan said the move would "at least bring President Trump to reason". (Reporting by Selena Li in Hong Kong; Scott Murdoch in Sydney; Editing by Muralikumar Anantharaman and Kate Mayberry)
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Hong Kong, Saudi Arabia may approve more cross-border financial products
An exchange-traded fund tracking bonds issued by the Saudi government has started trading in Hong Kong. (AP pic) HONG KONG : Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said today, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong today, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products – such as a sharia-compliant Sukuk bond and a real estate investment trust – are 'in the pipeline' for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. 'We're very comfortable in the cross listing of whatever products,' Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's financial secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after US President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A US trade court blocked the tariffs from going into effect yesterday, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the US than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the US court block, Chan said the move would 'at least bring President Trump to reason'.
Argaam
18-02-2025
- Business
- Argaam
Tadawul's diversification gains momentum, QFI count hits 4,200: Al-Suhaimi
The Saudi Tadawul Holding Group is making significant strides in its diversification strategy, the Chairperson Sarah Al-Suhaimi stated. At Capital Markets Forum (CMF) 2025, Al-Suhaimi highlighted that with over 45,000 investors in the market, the fixed income sector is anticipated to gain momentum in 2025, particularly in sustainable finance. The Saudi market consistently ranks among the world's top ten markets by market value and has been recognized as the leading market globally in terms of listing growth. She highlighted the group and its subsidiaries' exceptional performance in 2024, citing over 50 new listings across the TASI and Nomu markets and increased foreign investor participation, with qualified foreign investors (QFIs) reaching approximately 4,200. Tadawul Group is focused on strategically developing and diversifying its offerings, creating an integrated market, and ensuring a capable and responsive infrastructure. Al-Suhaimi confirmed the group's commitment to strengthening its presence in data, innovation, and commodity markets through the acquisition of Direct FN and a stake in Gulf Mercantile Group. These moves align with its diversification strategy, expand opportunities, and solidify the group's position across diverse sectors.
