The Hong Kong Stock Exchange (00388) launches the Tech 100 Index to further expand its index business.

On December 9th, Hong Kong Exchanges and Clearing Limited (HKEX, 00388) announced the launch of the HKEX Tech 100 Index (HKEX Tech 100). The HKEX Tech 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. HKEX also announced today that it has signed an agreement with mainland Chinese asset management company E Fund Management Co., Ltd. (E Fund) to authorize the launch of exchange-traded funds (ETFs) tracking the HKEX Tech 100 in mainland China. The HKEX Tech 100 is a broad-based stock index that tracks the performance of the 100 largest tech companies listed on HKEX by market capitalization. These companies cover six innovation themes: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and smart driving, information technology, Internet, and Siasun Robot & Automation. The index constituents are all eligible for the Stock Connect program to meet the investment needs of international and mainland Chinese investors. HKEX Chief Executive Officer Nicolas Aguzin said, "We are excited to launch the HKEX Tech 100 Index, which is an important milestone in the development of the group's index and data business. This broad-based index covers multiple innovative industries reshaping the Hong Kong stock market landscape and highlights the key role of the Hong Kong market in driving the development of these emerging industries. This index provides investors with an efficient and comprehensive investment tool to seize opportunities in the technology and emerging sectors." The HKEX Tech 100 has a fast-track inclusion mechanism, where newly listed companies meeting specific conditions can be quickly added to the index outside of the regular review cycle after inclusion in the Stock Connect trading. Aguzin added, "The authorization arrangement we have reached with E Fund will further promote the development of Hong Kong-related products in the mainland Chinese market, meeting the strong demand of mainland investors to capture the technology investment opportunities in the Hong Kong stock market. We look forward to working closely with E Fund and other industry partners to jointly develop innovative indices and products to meet the changing needs of investors and provide the market with a richer array of investment tools." E Fund Chairman Liu Xiaoyan said, We are delighted and honored to be authorized by HKEX to develop ETF products tracking the HKEX Tech 100 in the mainland Chinese market. This index is an important broad-based index representing Hong Kong-listed technology companies, bringing together 100 innovative companies listed on HKEX. We look forward to establishing ETF products tracking this index, allowing investors to share the investment opportunities of Hong Kong-listed technology companies and empower the real economy, assisting in the cultivation and development of emerging industries." Under the authorization agreement, E Fund plans to launch ETFs tracking the HKEX Tech 100 in mainland China, with specific arrangements subject to 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.