Hong Kong Exchanges and Clearing (HKEX) expects its ETF market to continue growing after hitting record turnover and new listings this year. Average daily turnover in ETFs doubled to a record HK$37.8 billion, with mainland China, Asia, the Middle East, and Europe investors contributing to the growth. HKEX's head of exchange-traded products, Jean-Francois Mesnard-Sense, attributed the growth to the cross-border ETF Connect mechanism, which allows international investors to trade ETFs listed in Shanghai and Shenzhen.
Hong Kong Exchanges and Clearing (HKEX) has reported significant growth in its exchange-traded fund (ETF) market, with average daily turnover doubling to a record HK$37.8 billion in the first nine months of 2025. This growth was driven by strong demand from investors in mainland China, Asia, the Middle East, and Europe, according to a DimSum Daily report
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Jean-Francois Mesnard-Sense, the head of exchange-traded products at HKEX, attributed the surge in ETF activity to the cross-border ETF Connect mechanism. This mechanism allows international investors to trade ETFs listed in Shanghai and Shenzhen, facilitating greater liquidity and accessibility to the market.
Despite regulatory setbacks, such as the suspension of stablecoin projects by Ant Group and JD.com in Hong Kong, the broader ETF market continues to thrive. The success of CMB International Asset Management's tokenization of a $3.8 billion money market fund on BNB Chain indicates that blockchain-based innovation can still flourish, particularly when led by established financial institutions, according to a MarketWatch article
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The growth in ETF turnover and listings highlights Hong Kong's resilience and continued attractiveness as a global financial hub. The city has emerged as one of the most active markets for listings this year, with funds raised through initial public offerings (IPOs) in the first nine months of 2025 totaling HK$182.9 billion, a significant increase from the HK$55.6 billion raised in the same period last year, as MarketWatch also noted.
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