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Global X launches china technology ETF


New York-based asset manager Global X Management has launched the Global X China Technology ETF, offering targeted access to the China technology sector.

The ETF seeks to replicate the S-BOX China Technology Index, which is designed to reflect the performance of the technology sector in China.

As of 30 November 2009, internet companies represent 51 per cent of the index, telecommunications 28 per cent, and hardware and software firms 20 per cent. The largest index components were internet companies, Sina and Baidu, and software firm Longtop Financial Technologies.

China is the world’s largest cell phone and internet market, with over 600 million cell phone customers and over 300 million internet users. Internet users grew by 13.5 per cent over the last year.

"China is driving its efficient manufacturing and rapidly expanding consumer base into higher value, technology-based products and services," says Bruno del Ama, chief executive of Global X Management.

The fund is the latest launch in a family of China sector ETFs offered by Global X Funds, including the China Industrials ETF and China Consumer ETF trading on the NYSE Arca, as well as the upcoming China Energy ETF, China Financials ETF and China Materials ETF which are not yet available for purchase. All funds have a 0.65 per cent expense ratio.

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