Hong Kong Exchanges and Clearing (HKEX) has launched two technology and semiconductor indices, including the first co-branded benchmark with its Korean counterpart, in a bid to create a “liquidity flywheel”.
The indices –– the HKEX Tech and US Tech 100 Index and HKEX KRX Semiconductor Index –– have been licensed to the Hong Kong units of five asset managers from China for new exchange-traded funds.
The two benchmarks offer targeted and diversified exposure to global and regional technology themes, HKEX says in a statement on April 13.
According to Bonnie Chan, chief executive officer of HKEX, the move is part of the bourse’s commitment to build “an exchange-led index ecosystem that supports product innovation and market development”.
“By expanding our proprietary and co-branded benchmark offering, along with its strong focus on technology opportunities, we aim to create a liquidity flywheel,” she says.
The HKEX Tech and US Tech 100 Index tracks performance of all the constituents of the HKEX Tech 100 Index, and the 100 largest Nasdaq‑listed technology companies.
The HKEX KRX Semiconductor Index, co-branded with Korea Exchange, tracks the constituents of the KRX Semiconductor Top 15 Index and Hong Kong-listed semiconductor firms that are eligible for distribution in China through the Stock Connect channel.
The indices have been licensed to Bosera Asset Management, Da Cheng International Asset Management, E Fund Management, GF International Investment Management, and Huatai-PCG Asset Management.
These local units of Mainland asset managers will introduce ETFs with the indices as the underlying benchmarks.
