The Hong Kong Stock Exchange (00388) launched the Technology 100 Index to further expand the index business
The Zhitong Finance App learned that on December 9, Hong Kong Exchanges and Clearing Limited (HKEx, 00388) announced the launch of the Hong Kong Stock Exchange Technology 100 Index (HKEx Technology 100). The Hong Kong Stock Exchange Technology 100 is the first Hong Kong stock index launched by the Group, further expanding its index business and continuing to promote the development of the capital market ecosystem in the region. The Hong Kong Stock Exchange also announced today that it has signed an agreement with mainland China's asset management company E-Fangda Fund Management Co., Ltd. (E-Fangda Fund) to launch an exchange-traded fund (ETF) that tracks the Hong Kong Stock Exchange Technology 100 in mainland China.
The Hong Kong Stock Exchange Technology 100 is a broad-based stock index that tracks the performance of the 100 largest technology companies listed on the Hong Kong Stock Exchange by market capitalization. The companies' industries cover six major innovation topics: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and intelligent driving, information technology, the Internet, and robotics. The constituent stocks of the index are all Hong Kong Stock Connect eligible stocks to meet the investment needs of international and mainland Chinese investors.
HKEx Group Chief Executive Chen Yiting said, “We are delighted to launch the HKEx Technology 100 Index. This is an important milestone in the development of the Group's index and data business. This broad-based index covers a number of innovative industries reshaping the Hong Kong stock market pattern, and also highlights the key role of the Hong Kong market in driving the development of these emerging industries. This index provides investors with an effective and comprehensive investment tool to help them seize investment opportunities in technology and emerging sectors.”
The Hong Kong Stock Exchange Technology 100 has a rapid inclusion mechanism. Newly listed companies that meet specific conditions can quickly join the index outside of the regular review cycle after being included in the Hong Kong Stock Connect transaction.
Chen Yiting added, “The licensing arrangement we have reached with E-Fangda Fund will further promote the development of Hong Kong stock related products in the mainland China market and meet the strong demand of mainland investors to seize technology investment opportunities in the Hong Kong stock market. We look forward to working closely with E-Fangda and other industry partners to jointly develop innovative indices and products to meet the changing needs of investors and push the market to provide richer investment tools.”
Liu Xiaoyan, Chairman of E-Fangda Fund, said, “We are very happy and honored to be authorized by the Hong Kong Stock Exchange to develop ETF products tracking the Hong Kong Stock Exchange Technology 100 in the mainland China market. The index is an important broad-based index characterizing technology companies listed in Hong Kong. It brings together 100 innovative companies listed on the Hong Kong Stock Exchange. We are looking forward to setting up ETF products to track this index so that investors can share investment opportunities for Hong Kong listed technology companies, while empowering the real economy and helping nurture and develop emerging industries.”
According to the licensing agreement, E-Fangda Fund plans to launch an ETF tracking the Hong Kong Stock Exchange Technology 100 in mainland China. The specific arrangements will depend on regulatory approval and further announcements from the issuer. Looking ahead, HKEx will continue to expand its index business and strengthen cooperation with industry partners to jointly launch more index-related products.