Hong Kong’s tech index plans expansion with AI and robotics themes
Hong Kong’s main tech stock index plans to include 20 more companies as well as artificial intelligence and robotics themes to reflect changes in the industry, the firm compiling it has said. Launched in 2020, the Hang Seng Tech Index tracks the 30 largest tech companies listed in Hong Kong. The benchmark, which has US$40.4 […]
The Hang Seng Tech Index, launched in 2020, is set to expand by adding 20 more companies and incorporating artificial intelligence and robotics themes, according to the firm managing it. Currently, the index tracks the 30 largest tech companies listed in Hong Kong and has $40.4 billion in assets under management. The benchmark plans to increase the number of constituents to 50.
The firm, Hang Seng Indexes Company, announced its intention to overhaul six tech themes to include artificial intelligence and robotics, as well as digital platforms, advanced hardware, cloud, and frontier technology. "As Hong Kong's technology sector continues to broaden, the proposed changes aim to expand technology theme coverage, refine constituent selection, and increase the number of constituents, so the index continues to represent the evolving tech landscape," the company stated.
Sub-themes will also be expanded from 16 to 24, with new categories including quantum computing and aerospace and satellite technology. Feedback on the proposed changes is being accepted until September 18, with the changes expected to be announced by the end of the month. Hong Kong has witnessed a surge in IPOs from Chinese AI-related companies seeking overseas funding, with Zhongji InnoLight, a data center supplier, raising about $6.8 million in its debut offering last month, marking Hong Kong's biggest public offering in seven years.
Written by urgent.news from Hong Kong Free Press's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
