HKEX(HK:00388) Zheng Quan Shi Bao·2025-12-14 22:22Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has launched the Hong Kong Stock Exchange Technology 100 Index, marking a significant milestone in its index and data business development, reflecting a fundamental shift in the market structure towards technology as a key sector [1][2]. Group 1: Introduction of the Technology 100 Index - The Technology 100 Index tracks the performance of 100 of the largest technology companies listed on the HKEX, covering six major innovative themes: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and smart driving, information technology, internet, and robotics [1]. - The index is designed to meet the investment needs of both international and mainland Chinese investors, as all constituent stocks are eligible for the Stock Connect program [1][2]. Group 2: Market Trends and Investor Interest - There has been a noticeable shift in investor perception of the Hong Kong market, increasingly recognizing it as a technology-driven market, especially since the listing rule reforms initiated in 2018 [2]. - Data indicates that the market structure has transitioned from traditional industries to being dominated by technology companies, with the market capitalization of technology stocks in the Stock Connect program expected to rise from approximately 10% in 2014 to about 40% by 2025 [2]. Group 3: Differentiation from Existing Indices - The Technology 100 Index differentiates itself from the Hang Seng Technology Index by including 100 constituent stocks, ranging from large-cap companies like Tencent and Alibaba to smaller firms with market capitalizations of over 20 billion HKD [3]. - The index aims to cater to diverse investor needs, providing a broader range of investment options compared to existing indices [3]. Group 4: Accessibility and Inclusion Criteria - All constituent stocks of the Technology 100 Index must meet the eligibility criteria for the Stock Connect program, ensuring ease of access for mainland fund companies [4]. - The index requires constituent stocks to have at least six months of listing history, but it also includes a rapid inclusion mechanism for representative new stocks that meet the criteria [4]. Group 5: Future Developments and Performance - The HKEX plans to introduce more indices, including thematic indices, to meet growing investor demand [5]. - The Technology 100 Index has shown strong performance, with a cumulative return of approximately 40% year-to-date as of November 30, 2025, and returns of 45% and 55% over the past year and three years, respectively, highlighting the growth potential of the technology sector in the Hong Kong market [5].