HKEX(HK:00388) 证券时报·2025-12-15 00:17Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has launched the HKEX Technology 100 Index, marking a significant milestone in its index and data business development, reflecting the transformation of the Hong Kong market towards a technology-centric identity [1][2]. Group 1: Introduction of the Technology 100 Index - The HKEX Technology 100 Index is a broad-based stock index tracking the performance of the 100 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 [2][3]. - The index includes only stocks eligible for the Stock Connect program, catering to both international and mainland Chinese investors [2]. Group 2: Market Trends and Investor Sentiment - 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 [3]. - Data indicates a significant change in the market structure, with the market capitalization of technology stocks in the Stock Connect program rising from approximately 10% in 2014 to about 40% by 2025, with four out of the top ten companies being technology giants [3]. Group 3: Differentiation from Existing Indices - The HKEX 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 [5][6]. - The index aims to meet diverse investor needs, providing a broader selection of technology stocks compared to existing indices [6]. Group 4: Future Developments and Performance - The HKEX plans to introduce more indices, including thematic indices, to further enhance its product offerings [8]. - The HKEX Technology 100 Index has shown strong performance, with a cumulative return of approximately 40% year-to-date, 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 [9].