China approved its first exchange-traded funds investing in Saudi Arabia equities on Friday, fund managers told Reuters, as Beijing expands ties with the Middle East amid rising tensions with the West. The products, managed by China’s Huatai-Pinebridge Investments and Southern Asset Management separately, will track Hong Kong-listed CSOP Saudi Arabia ETF, which debuted in November by Hong Kong-based CSOP Asset Management, according to the two fund managers. “The approval will ...