HONG KONG -- Middle East sovereign wealth funds are becoming increasingly active in Hong Kong's stock market after it tumbled to its lowest level in two decades amid growing investor concerns about the deteriorating relationship between the West and China.
Sovereign wealth funds from Saudi Arabia, Abu Dhabi and Qatar have participated as seed investors in the listings of Chinese companies this year. On Wednesday, a new $1 billion exchange-traded fund (ETF) tracking Saudi equities listed in Hong Kong, with Saudi Arabia's Public Investment Fund (PIF) as anchor investor.
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