Hong Kong Exchanges and Clearing has introduced the Hong Kong Stock Exchange Tech 100 Index, which features major Chinese technology companies including Tencent Holdings, Alibaba Group Holding, and Contemporary Amperex Technology among its constituents.
Launched yesterday, the Tech 100 Index tracks the exchange’s top 100 technology firms operating across six innovation-driven sectors: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and intelligent driving, information technology, internet, and robotics. Each constituent’s weighted market capitalization is capped at 12 percent.
To qualify for inclusion, companies must maintain an average daily trading volume of at least HKD20 million (USD2.6 million) over the past six months, invest more than 3 percent of revenue in research and development, and achieve annual revenue growth of over 5 percent for the previous two years. Constituents will be reviewed and adjusted every June and December.
“This broad-based index covers multiple innovative industries that are reshaping the landscape of the Hong Kong stock market, highlighting its key role in promoting the development of these emerging industries,” said Bonnie Chan, chief executive officer of Hong Kong Exchanges and Clearing.
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