(Yicai Global) July 28 -- Hang Seng Indexes launched the Hang Seng Tech Index yesterday. The new directory will track the 30 largest technology companies listed in Hong Kong, including Alibaba Group Holding [HKG:9988], Tencent Holdings [HKG:0700], Meituan Dianping [HKG:3690] and Xiaomi [HKG:1810].

The Hang Seng Tech Index closed at 6,774.78 yesterday, down 1.28 percent.

The index encompasses Hong Kong-listed companies that have high business exposure to selected technology themes, including internet, fintech, cloud, e-commerce and digital activities, and is calculated and disseminated in real-time at two-second intervals.

“In view of the rapid blossoming of new businesses in the technology sector and the increasing number of technology companies that are listed in Hong Kong, we developed the Hang Seng TECH Index to meet the fast-growing interest in this investment theme among investors,” said Anita Mo, deputy chief executive officer of Hang Seng Indexes.

The index constituency is reviewed quarterly, and features a fast-entry rule allowing timely induction of newly-listed tech-themed companies.

Hang Seng Indexes Company Ltd. manages and compiles the Hang Seng Family of Indexes, which cover stocks and bonds listed in Hong Kong and mainland China. The index series includes the Hang Seng Index and the Hang Seng China Enterprises Index, as well as Stock Connect, Greater Bay Area and sector-related indexes. As at the end of 2019, assets under management in products passively tracking indexes in the Hang Seng Family of Indexes had reached a total of about US34 billion.

Editor: Ben Armour