On January 28, Hang Seng Investment Management announced the launch of a new physical gold exchange-traded fund (ETF) that tracks the LBMA Gold Price. The Hang Seng Gold ETF started trading on the Hong Kong Stock Exchange on Wednesday under the stock code 3170. The Hang Seng Gold ETF opened at HK$18.40 and closed at HK$17.44, up HK$1.44, or 9%, from its previous close of HK$16.00. According to Hang Seng, the fund has no plans to distribute dividends. The Hang Seng Gold ETF debuted as gold extended its rally on Thursday.