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China A-shares ETF debuts on SGX

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The Singapore Stock Exchange has announced that, with a launch size of SGD69 million, Phillip-China Universal MSCI China A 50 Connect ETF became the largest ETF outside of mainland China that tracks the MSCI China A 50 Connect Index. 

The index covers 50 large and mid-cap stocks listed in Shanghai and Shenzhen, providing investors exposure to various key industries. The ETF recorded the highest net inflow in March 2024 with SGD69 million in net creations.

Overall, Gold, REITs and Fixed Income ETF saw a spike in turnover performance with a turnover increase of 138 per cent, 64 per cent and 8 per cent respectively. Equity ETFs saw the largest drop among all asset classes (-24 per cent). SPDR GOLD SHARES (SGX:O87/GSD), Lion-OCBC Securities Hang Seng TECH ETF (SGX: HST/HSS), STI ETF (SGX: ES3) were the top three performing ETFs with the highest turnover. 

Gold ETFs (SGX: O87/GSD) recorded the highest turnover of SGD117.5 million in Mar-24 as gold prices achieved a new all-time high (surpassing USD2,220 an ounce) amid growing anticipation of coordinated interest rate reductions by major central banks. ICBC CSOP FTSE Chinese Government Bond Index ETF (SGX: CYC) recorded the second highest inflows of SGD29 million. The 30Y Chinese government bond yields are down nearly 40bps this year, hitting a record low of below 2.4 per cent in March.

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