Hong Kong launches HKEX Tech 100 Index in pivot towards innovation-driven growth

Core Insights - Hong Kong Exchanges and Clearing (HKEX) has launched the HKEX Tech 100 Index, which tracks 100 large-cap and mid-cap technology companies listed in Hong Kong, marking a shift towards innovation-driven growth in the city [1][3] - The index includes sectors such as artificial intelligence, biotech, pharmaceuticals, electric vehicles, smart driving, information technology, internet, and robotics [1] - HKEX has entered a licensing agreement with E Fund Management to create an exchange-traded fund (ETF) based on the HKEX Tech 100 Index for the mainland Chinese market [3][4] Index Composition and Review - The HKEX Tech 100 Index will be reviewed semi-annually in June and December [4] - This new index complements existing benchmarks in Hong Kong, including the Hang Seng Index and the Hang Seng Tech Index [4] Market Impact and Management - The index aims to provide investors with a comprehensive tool to capture opportunities in transformative sectors within Hong Kong's market [3] - E Fund Management, the largest mutual fund manager in China with over 3.6 trillion yuan (approximately US$509 billion) under management, emphasizes the index's representation of the vibrancy and innovation in Hong Kong's tech sector [5]