Market Chatter: TraHK to Ban US Citizens, Firms Starting June 2022

MT Newswires ·  {{timeTz}}

11:01 PM EDT, 07/29/2021 (MT Newswires) -- Tracker Fund of Hong Kong or TraHK (HKG:2800) will no longer allow US citizens and companies to trade any of its units starting June 4 next year, The Standard reported Friday, citing a statement from the fund's manager.

State Street Global Advisors Asia, the manager of TraHK, said the move is part of its compliance with an executive order under the Trump administration that banned American investments in companies tied to the Chinese military.

TraHK is an exchange-traded fund that tracks the performance of the Hang Seng Index, which includes US-blacklisted companies such as China Mobile (HKG:0941), China Unicom (HKG:0762) and CNOOC (HKG:0083).

The stock slipped nearly 1% recently.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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