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HKEX Launches Tech 100 Index for Innovation Growth
9 Dec
Summary
- HKEX launched a new index tracking 100 Hong Kong-listed tech firms.
- The index covers AI, biotech, EVs, and internet sectors.
- Qualified mainland investors can access stocks via Stock Connect.
Hong Kong Exchanges and Clearing has introduced its inaugural equity index focused on technology companies listed in the city. This significant development marks a strategic shift for Hong Kong's market, moving from its traditional reliance on property and finance towards embracing innovation and technology-driven expansion.
The HKEX Tech 100 Index will monitor 100 prominent large and mid-cap firms engaged in rapidly growing sectors such as artificial intelligence, biotechnology, pharmaceuticals, electric vehicles, and robotics. This initiative is designed to provide investors with a focused tool to capitalize on the dynamism within these transformative industries.
Furthermore, HKEX has partnered with E Fund Management to develop an exchange-traded fund based on the new index for the mainland Chinese market. This collaboration aims to broaden access for qualified mainland investors through the Stock Connect scheme, facilitating investment in Hong Kong's burgeoning technology sector.
