Indian investors can now trade in an international index as the Hang Seng Benchmark Exchange Traded Fund (Hang Seng BeES) will be available on the National Stock Exchange from Thursday.
Benchmark Mutual Fund's Hang Seng Benchmark Exchange Traded Scheme (Hang Seng BeES) shall be admitted to dealings on the exchange with effect from March 18, the NSE has said in a statement.
Hang Seng Benchmark Exchange Traded Scheme is an open-ended scheme tracking Hang Seng index, which comprises 42 companies, including HSBC Holdings, China Mobile, Bank of China, Cathay Pacific Airways and China Construction Bank Corporation.
Through the Hang Seng BeES investors can now trade in Hong Kong's Hang Seng Index. The Hang Seng index represents around 60 per cent Hong Kong's total share market valuation. An exchange-traded scheme tracks an index.
In the past one year the Hang Seng index has gained about 50 per cent, far lower than the over 90 per cent gain posted by the key index Sensex of India's stock market.
