Hang Seng launches new index tracking hard tech firms

It covers firms involved in semiconductors, AI, and electronic equipment.

Hang Seng Indexes Company has launched a new index that tracks the performance of Hong Kong-listed companies engaged in hard technology.

The Hang Seng SCHK Hard Tech Index covers companies involved in semiconductors, artificial intelligence, electronic equipment, new energy equipment, and other high-end equipment manufacturing.

Hang Seng said eligible firms must qualify for Southbound trading under the Stock Connect scheme.

They must also have a 12-month average daily market value of at least $5b and a six-month average daily turnover of at least $20m.

The index selects 40 securities based on their market value rankings, with individual constituent weightings capped at 12%.

It is reviewed half-yearly, rebalanced quarterly and calculated and disseminated in real time at two-second intervals.