Amundi debuts HK ETF but rules out L&I products

French asset manager Amundi yesterday listed an exchange-traded fund in Hong Kong – its first in Asia – with an eye on building a regional ETF business with the city at its hub, but has no plans to launch leveraged and inverse products there. The new product physically replicates the Hang Seng 35, a concentrated index that excludes Chinese H-shares and red-chips such as e-commerce giant Tencent. The aim of the HSHK 35 fund is to dampen volatility by providing Hong Kong market expo…