Also launched this year is the NETS Hang Seng Index Fund (HKG), which is down 11% since its April 11 inception. The fund has a lower weighting in financials, at 43.2%. Telecommunications is 16.3% and energy is 12.2%.

Investors today dumped Hong Kong banking stocks after JPMorgan Chase & Co. announced more losses from its mortgage-related investments, reports Thomson Financial.

The government is keeping its forecast for economic growth between 4% and 5% for this year. The expansion in 2007 was at 6.4%, while inflation was 2%. This year, it’s expected to jump to 4.2%.