Hong Kong's First Copper ETF Launched Amid Rising Demand
The Global X Copper Miners ETF (3014/9014 HK) has been launched in Hong Kong, marking the territory's first copper-focused exchange-traded fund.
The Fund tracks the Solactive Copper Miners Index, which selects up to 30 eligible securities ranked by total market capitalization from the universe of the Solactive GBS Global Markets All Cap USD Index. Constituents are weighted by free-float market capitalization with an individual cap of 7%.
The launch comes at a time when copper demand is on the rise due to the increasing use of artificial intelligence and data centres. Copper miners have the potential to benefit from the greater value placed on existing production and reserves, as supply struggles to keep pace with demand.
Mirae Asset Global Investments (Hong Kong) Limited, through its Global X ETFs brand, has launched the Fund with an issue price of US$1 per share and a board lot size of 100 shares. The Fund is listed on the Stock Exchange of Hong Kong.