TOKYO (Thomson Financial) - The Tokyo Stock Exchange plans to list an exchange traded fund (ETF) already listed overseas in November, allowing individual Japanese investors to trade overseas ETFs denominated in the yen during the day, the Nikkei reported on Sunday without citing sources.
Major US ETF operator State Street Corp is expected to apply to list its gold-linked ETF, which is currently listed on the New York Stock Exchange, the business daily said.
Several other fund management firms, including one that operates a stock index-linked ETF in South Korea, are also likely to follow suit, it said.
While the minimum trading units for overseas ETFs is likely to be decided based on the 100,000 yen to 200,000 yen level set for domestic ETFs, some operators of overseas funds are considering lowering the minimum unit to make it easier for individual investors to buy them, the report said.
(1 US dollar=114.21 yen)
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