HKEX(HK:00388) Zheng Quan Shi Bao·2025-12-14 22:32Core 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]. Group 2: Market Trends and Investor Demand - There has been a notable 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 increasing 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 200 million HKD [3]. - This broader coverage aims to cater to diverse investor needs, enhancing the overall attractiveness of the market [4]. Group 4: Accessibility and Future Developments - All constituent stocks of the Technology 100 Index must meet the eligibility criteria for Stock Connect, ensuring ease of access for mainland fund companies [5]. - The index has a mechanism for rapid inclusion of representative new stocks, allowing it to reflect market dynamics promptly [5]. - Future plans for the HKEX include the introduction of more indices, including thematic indices, to meet growing investor demand [5].