CSOP GOLD FUTURES DAILY (-1X) INVERSE PRODUCT LIST ON HKEX, OCT 20

KUALA LUMPUR, Oct 20 (Bernama) -- CSOP Gold Futures Daily (-1X) Inverse Product (stock code:7374.HK) will be listed on Hong Kong Stock Exchange on Oct 20.

As the first inverse commodity product issued in Hong Kong, 7374.HK provides investment results closely corresponding to inverse (-1x) the daily performance of Solactive Gold 1-Day Rolling Futures Index (the Index) by using a combination of a future-based replication strategy and a Swap-based synthetic replication strategy.

According to a statement, 7374.HK attracted US$12 million initial investment. (US$1 = RM4.154)

The inception price per unit is around HKD 7.8 with trading lot of 100, and the entry investment is approximately HKD 780. Before 7374.HK, CSOP Gold Futures Daily (2x) Leveraged Product (stock code: 7299.HK) was launched on June 5, 2020.

Having accumulated US$248.3 million in size and recorded HKD 30.37 million average daily trading volume as end of August 2021, 7299.HK is extensively invested by Hong Kong investors to express their positive view to gold price in the long run.

Meanwhile, the listing of 7374.HK will help investors handle the volatility and downtrend of gold price in the short run.

“We are happy to see the warm market responses towards the commodity leveraged & inverse products. The success of 7299.HK gives us the confidence in launching the 7374.HK,” said CSOP Chief Executive Officer, Ding Chen.

Meanwhile, Managing Director and Head of Business Development, Melody He said: “We hope CSOP Gold Futures Daily (2x) Leveraged Product (7299.HK) and CSOP Gold Futures Daily (-1X) Inverse Product (7374.HK) will help investors weather the storm of increasing uncertainties.”

CSOP Asset Management Limited (CSOP) was founded in 2008 as the first offshore asset manager set up by a regulated asset management company in China.

-- BERNAMA