HKEX(HK:00388) 证券时报·2025-12-09 01:59Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has launched its first stock index, the HKEX Technology 100 Index, aimed at expanding its index business and enhancing the regional capital market ecosystem [1][3]. Group 1: Index Overview - The HKEX Technology 100 Index tracks the performance of 100 of the largest technology companies listed on the Hong Kong Stock Exchange, covering six major innovation themes: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and smart driving, information technology, internet, and robotics [3][8]. - The index includes only stocks that qualify for the Stock Connect program, catering to both international and mainland Chinese investors [3][8]. Group 2: ETF Launch - HKEX has signed an agreement with E Fund Management to launch an exchange-traded fund (ETF) in mainland China that tracks the HKEX Technology 100 Index [5][6]. - The CEO of HKEX emphasized the significance of this index as a milestone in the development of the group's index and data business, highlighting its role in providing investors with effective investment tools in emerging sectors [5][6]. Group 3: Index Characteristics - The index features broad market capitalization coverage, including large and mid-cap technology companies with significant growth potential, meeting diverse investor allocation needs [8]. - A rapid inclusion mechanism allows new qualifying companies to be added to the index outside the regular review cycle, ensuring timely reflection of market dynamics [8][9]. - The index components must meet Stock Connect eligibility, and any stock that no longer qualifies will be removed from the index [8]. Group 4: Selection Criteria - Stocks must have a minimum listing history of six months, with fundamental requirements including R&D expenditure of at least 3% of revenue or revenue growth of at least 5% year-on-year [9]. - The index employs a free-float market capitalization weighting method, with a maximum weight of 12% for any single stock [11]. - Adjustments to the index components occur biannually, in June and December, based on data from the last trading day of April and October [12].