Group 1 - S&P Dow Jones Indices is collaborating with major exchanges, custodians, and decentralized finance protocols to launch tokenized benchmark index products [1] - Earlier this year, the company partnered with Centrifuge to authorize a tokenized version of the S&P 500 index [1] - The initiative aims to establish a robust infrastructure supporting tokenized index trading, focusing on transparency, security, and regulatory compliance [1] Group 2 - The tokenization plan may extend to other flagship indices, such as the Dow Jones Industrial Average [1]

Group 1 - The core viewpoint of the article is the launch of two innovative covered call option indices based on the Hang Seng Technology Index by the Hang Seng Index Company [1] - The Hang Seng Tech Index 15% Target Option Premium Weekly Covered Call Option Index retains long positions in the Hang Seng Technology Index while selling a portion of weekly call options, with the premiums reinvested into the portfolio [1] - The Hang Seng Tech Index Net Dividend Accumulation 15% Target Option Premium Weekly Covered Call Option Index is a net dividend accumulation version where both premiums and dividends are reinvested into the portfolio [1] Group 2 - The newly launched indices are the first batch of target option premium covered call option indices in the Hang Seng Index series, aiming to retain the upside potential of the Hang Seng Technology Index while generating income from selling weekly call options [1] - Backtesting data for the first seven months of this year shows that the Hang Seng Tech Index 15% Target Option Premium Weekly Covered Call Option Index has a return of 22.5%, while the Hang Seng Tech Index Net Dividend Accumulation 15% Target Option Premium Weekly Covered Call Option Index has a return of 23.6% [1]

Group 1: Market Performance - The Hang Seng Tech Index recorded an increase of over 53% in the past year, outperforming the broader Hang Seng Composite Index by 12 percentage points [1] - As of July 18, 2025, the Tech Index has risen by 24% year-to-date, continuing its upward trend after a nearly 19% increase in 2024 [1] - The Tech Index's one-year annualized volatility is approximately 41%, compared to 28% for the Hang Seng Composite Index [1] Group 2: Exchange-Traded Products (ETPs) - The total assets under management (AUM) for ETPs tracking the Tech Index reached $26.3 billion as of June 30, 2025, reflecting a nearly 35% increase from the end of 2024 [2] - The cumulative AUM growth from 2021 to 2025 for ETPs tracking the Tech Index is 362% [2] - There are currently 29 ETPs based on the Tech Index listed across 13 different exchanges in the US, Europe, and Asia [2] Group 3: Futures Market - The average daily trading volume (ADV) for Tech Index futures reached approximately 172,000 contracts in the first half of 2025, a 44% increase from 2024 [3] - Since the launch of Tech Index futures in November 2020, the ADV has increased by 97 times, significantly boosting its market share in Hong Kong's overall futures market to 22% [3]

黄金将美股远远甩在身后，小心命运之轮再次转 动！ 他表示，从历史上看，这种背离反映了"交易员的悲观情绪加剧，并且常常预示着在接下来的几个月里 股市将触底，随后会出现反弹行情"。 今年到目前为止，美国股市表现令人失望，而黄金价格已攀升至每盎司3000美元以上的新历史高点，这 两类资产的表现差异表明，在未来几个月情况可能会发生变化。 SentimenTrader的高级研究分析师迪恩·克里斯蒂安斯（Dean Christians）在最近的一份报告中写道，在 过去三个月里，标普500指数的表现比黄金期货低24%，这是自2022年3月以来的最大差距，当时的特点 是股市承压以及对避险资产的需求旺盛。 克里斯蒂安斯表示，随着标普500指数下跌、黄金期货上涨，这两类"通常不相关的资产类别"之间的三 个月回报率差距扩大到了"两年多来最显著的程度"。自1970年以来，这一回报率差距只在5%的时间里 出现过低于负24%的情况。 克里斯蒂安斯称，对这两类资产的分析有助于判断当前股市的回调是"牛市中的常规调整，还是向熊市 的决定性转变的开始"。 另一方面，克里斯蒂安斯补充道，在与股市的回报率差距达到负24%之后，黄金在最初几个月可能会 ...

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