The average daily turnover of Hong Kong-listed exchange traded funds rose to a record high of 15.5 per cent of the stock market’s total turnover in July at HK$15.9bn ($2.04bn), according to Hong Kong Exchanges and Clearing (HKEX) data analysed by Ignites Asia.
The new high was driven by mainland Chinese investors piling into the market since the Hong Kong-China ETF Connect scheme was established a year ago. It also follows the introduction of a higher stamp duty for stock trading that has affected turnover volumes.
ETF trading on the bourse rose to 15.5 per cent of the average daily trading last month, up from about 9.8 per cent in July 2022 and 4.6 per cent in July 2021.
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