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S. Korea, Taiwan to cross-list ETFs this week

All Headlines 13:52 October 05, 2016

SEOUL, Oct. 5 (Yonhap) -- South Korea and Taiwan will list their major exchange traded funds (ETFs) on each other's stock market later this week, Seoul's bourse operator said Wednesday.

The Korea Exchange (KRX) said an ETF tracking the country’s KOSPI 200 Index will be listed on the Taiwan Stock Exchange on Friday, while another ETF based on the Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) will be traded in the stock market here.

A related ceremony will be held on Friday at the KRX building in Seoul.

It's a follow-up measure to a 2005 deal between the two stock exchanges to promote bilateral partnerships.

"It will provide domestic investors with an investment vehicle to access the Taiwanese equity market conveniently through the South Korean equity market, and vice versa," the KRX said.

It added the two sides are pushing for the joint development of high-yield and IT-related indices.

This image shows stock numbers next to South Korea's stock market building in a photo provided by Yonhap News TV. (Yonhap)

lcd@yna.co.kr
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