Hong Kong Exchanges and Clearing Limited ( HKEX ) has launched the HKEX Tech 100 Index, the group's first Hong Kong equity index that underscores its ongoing investment in building the vibrancy of the region's capital market ecosystem.

The new index tracks the performance of 100 of the largest Hong Kong-listed companies across six innovative themes: artificial intelligence, biotech and pharmaceutical, electric vehicles and smart driving, information technology, internet, and robotics. All constituents are eligible for southbound trading under the Stock Connect theme, ensuring broad accessibility for global and mainland Chinese investors.

Meanwhile, HKEX has entered into a licensing agreement with E Fund Management Company Limited, a leading mainland asset management company, for the introduction of an exchange-traded fund ( ETF ) based on the HKEX Tech 100 on the mainland.

HKEX chief executive officer Bonnie Chan comments: "We are delighted to announce the launch of the HKEX Tech 100 Index, a significant milestone in HKEX's journey to build its index and data business. This new broad-based index covers the leading innovative sectors in our listed issuer universe that have transformed the DNA of Hong Kong's markets, and its launch underscores the critical role our markets play in nurturing these emerging industries. This new benchmark provides investors with an effective and comprehensive tool to capture opportunities in some of the most exciting and transformative sectors in our market."

The index incorporates a fast-entry mechanism, enabling newly-listed companies that meet specific criteria to join the index outside of the regular review cycle after they become eligible for Stock Connect southbound trading.

"Our licensing arrangement with E Fund Management will help support the further development of a product suite linked to Hong Kong equities in the Chinese Mainland, meeting the strong market demand in the region for opportunities in Hong Kong's vibrant tech sector,” Chan adds. “We look forward to working closely with E Fund Management and other industry partners, as we develop innovative indices and products that meet evolving investor needs and support the creation of new investment tools."

With the licensing agreement, E Fund Management plans to launch an ETF on the mainland based on HKEX Tech 100, subject to regulatory approval and the issuer's further announcements.

The index operator says it will continue to explore other index opportunities and work with industry partners in product development around its indices.