Hong Kong maintains partial stamp duty waiver for ETFs

Joseph Ho, Lyxor

Exchange-traded funds (ETFs) in Hong Kong that have less than 40% of net asset value in Hong Kong stocks are to remain exempt from stamp duty. Their status was confirmed by Hong Kong financial secretary John Tsang in his budget speech on February 24.The net effect is not as profound as it might at first appear, since the majority of ETFs listed in Hong Kong are either based on local shares or cross-listed. The few ETFs that invest outside of Hong Kong (typically in India or China A-shares) an

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