Nasdaq Bets on ETFs Joining Hong Kong-Shanghai Stock Link
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Nasdaq OMX Group Inc. is betting that Chinese authorities will let investors buy exchange-traded funds over the new link between Hong Kong and Shanghai.
The New York-based exchange operator is licensing its indexes to fund managers in Hong Kong as it prepares for a future phase of the link to include ETFs, said Robert Hughes, Nasdaq's vice president for global indexes. BMO Global Asset Management (Asia) Ltd., a unit of Bank of Montreal, launched two Hong Kong-listed ETFs that track Nasdaq indexes on Nov. 13.