Hong Kong Exchanges and Clearing (0388) has launched its first Hong Kong equity index, tracking the performance of 100 of the largest listed tech companies in the city.
The HKEX Tech 100 Index is a broad-based benchmark across six innovative themes: artificial intelligence, biotech & pharmaceutical, electric vehicles & smart driving, information technology, internet, and robotics.
All constituents are eligible for Stock Connect Southbound trading, ensuring broad accessibility for global and Chinese investors, HKEX said, adding that the index incorporates a fast-entry mechanism, enabling newly-listed companies that meet specific criteria to join the index outside of the regular review cycle after they become eligible for the connect.
HKEX has also entered into a licensing agreement with asset manager E Fund Management Company, for the introduction of an exchange traded fund based on HKEX Tech 100 in the mainland, subject to regulatory approval and the issuer’s further announcements.
Chief executive Bonnie Chan Yi-ting called the launch a “significant milestone” in HKEX’s journey to build its index and data business.
“The licensing arrangement will help support the further development of a product suite linked to Hong Kong equities in the mainland, meeting the strong market demand in the region for opportunities in Hong Kong’s vibrant tech sector,” she said.
E Fund Management chairwoman Liu Xiaoyan said: ”We look forward to the launch of this ETF, which will aim to provide investors with an efficient way to tap into the growth opportunities of Hong Kong-listed tech companies.”
