NSE to launch two L&I products in Hong Kong Stock Exchange

Mumbai, July 19 (IANS) The National Stock Exchange of India (NSE) on Tuesday said that two Nifty50 based leveraged and inverse (L&I) products will be launched in the Hong Kong Stock Exchange.

According to the NSE, the products -- which are to be launched on Wednesday -- will be listed on the Hong Kong Stock Exchange to enable investors in Hong Kong to access the Indian market.

“Two ETFs (exchange-traded funds) namely -- CSOP Nifty 50 Daily (2x) Leveraged Product and CSOP Nifty 50 Daily (-1x) Inverse Product -- are going to list. While the first is a leveraged product, the later is an inverse product,” the NSE said in a statement.

“The investments in these ETFs will approximately correspond to twice (2x), or, inverse (-1x) of the daily performance of the Nifty 50 Index on the NSE,” the statement added.

Nifty 50 is the benchmark index of India, and is compiled and managed by India Index Services and Products (IISL), a group company of the NSE.

“The listing of Nifty 50 based leverage and inverse products in Hong Kong will ensure that investors in Hong Kong and China can participate in the India growth story,” said Mukesh Agarwal, Chief Executive Officer, IISL.

The statement further said the ETFs will be offered by a leading global Chinese asset manager -- CSOP Asset Management Limited (CSOP) -- which is making its debut in L&I products in the Hong Kong market through these ETFs.

“L&I products are new investment category in Hong Kong and it invests in futures to achieve its performance. From China to India, CSOP is always devoted to presenting opportunities of growth to global investors,” said Ding Chen, Chief Executive of CSOP.