News

Shanghai and South Korea bourses to cross-list ETFs

ETF blocksThe exchanges of South Korea and Shanghai plan to launch a scheme that will see the two bourses cross-list their respective ETFs. The move comes on the back of significant growth in the two ETF markets. According to Morningstar data, ETF assets in South Korea have grown by more than 40% in the last 12 months while China’s ETF market has seen 34% growth in the 12 months from March 2020. The scheme’s announcement followed a memorandum of understanding (MoU) signed on May 11 by the Shanghai Stock Exchange and Korean Stock Exchange (KRX). The MoU also included joint index development plans as well as future collaboration on bond markets. Byungdoo Sohn, chairman and chief executive of the KRX, stated that the collaboration will give investors greater access to the capital markets of both countries. “I am highly confident that this MoU will contribute to the fruition of long-standing cooperative relationship between Korea and China," Sohn said in a statement. China also signed an ETF connectivity programme with Japan in 2019.  © 2021 funds global asia

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