Business in 67 Shanghai-traded ETFs halted by Hong Kong typhoon delay

Business in 67 Shanghai-traded ETFs halted by Hong Kong typhoon delay
A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China on Feb 3, 2020. (File photo: Reuters/Aly Song)

SHANGHAI: The Shanghai Stock Exchange said subscription and redemption in 67 exchange-traded funds (ETFs) would be halted on Thursday (Aug 25) due to a trading suspension in Hong Kong triggered by a typhoon.

The business suspension in the ETFs, which invest fully or partly in Hong Kong-traded shares, was made at the request of relevant asset managers, the Shanghai bourse said in a statement.

The Hong Kong stock exchange suspended trading on both the securities and derivatives markets on Thursday morning due to Tropical Storm Ma-on. Trading will resume in the afternoon as the typhoon signal 8 has been lowered.

The ETFs affected include ChinaAME Hang Seng Technology ETF, China Life AMP CSI SH-HK-SZ 300 Index ETF and China Southern Hang Seng Index ETF.

Also on Thursday, Shanghai and Shenzhen stock exchanges said in separate statements that the southbound leg of their Stock Connect schemes with Hong Kong would also be suspended for the session.

The extent of the business and products affected in mainland China due to the Hong Kong trading disruption shows the increasing integration of the two markets.

Source: Reuters/st