KUALA LUMPUR, June 5 -- CSOP Asset Management Limited (CSOP) will list CSOP Gold Futures Daily (2x) Leveraged Product (stock code:7299.HK) on the Hong Kong Stock Exchange today.
As the first leveraged commodity product issued in Hong Kong, 7299.HK provides investment results closely corresponding to twice (2x) the Daily performance of Solactive Gold 1-Day Rolling Futures Index by investing in the active Contracts of gold futures traded on the New York Commodity Exchange.
In the current volatile market circumstances, 7299.HK attracted US$5 million initial investment. The inception price per unit is around HKD 8 with trading lot of 100, and the entry investment is approximately HKD 800. (US$1 = RM4.264)
Throughout history, gold is used to preserve wealth by investors worldwide. Owning gold has been regarded as a good hedge against inflation and deflation alike, and a good portfolio diversifier. As a global store of value, gold can also provide financial cover during geopolitical and macroeconomic uncertainty.
Since beginning of 2020, gold performed among the best assets in the global panics over the COVID-19 epidemics. After the FED announced the unlimited QE policy, the widespread concerns over the inflation pushed the gold price to a new high level.
In the post epidemic time, the Gold price may continue its upward trend among unknown long-term impacts induced by COVID-19, while the easing monetary policy introduced by governments of major economies may further push the gold price to grow.
As a leader in Hong Kong’s L&I market, CSOP has demonstrated a remarkable track record with credibility and success by introducing seven L&I products in Hong Kong, contributing more than 90 per cent AUM and daily turnover to Hong Kong L&I market.
-- BERNAMA
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