Nasdaq Taking Apple, Microsoft to Shenzhen With Tech Stock ETF
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Nasdaq OMX Group Inc. is seeking to tempt Shenzhen stock investors with Apple Inc. and Microsoft Corp. amid a rally in Chinese technology shares that’s making the U.S. dot-com bubble look subdued.
Nasdaq will start a exchange-traded fund in Shenzhen tracking the Nasdaq 100 Index by early in the third quarter, Robert Hughes, who manages the New York-based company’s global indexes business, said in an interview on Wednesday. It’s licensed GF Fund Management Co. to offer the Guangfa Nasdaq-100 Index Fund, which will be Shenzhen’s first ETF based on the gauge, he said.