HKEX Insight

Hong Kong’s listed technology sector has transformed into one of the most diverse and investable innovation marketplaces in Asia, spanning global internet platforms, AI pioneers, biotech innovators, EV leaders and the smart-driving and robotics value chain.

That shift has been building for years, supported by listing reforms, the arrival of new economy issuers and rising investor demand for access to innovation-led companies in Hong Kong.

At the end of 2025, technology, media, telecom (TMT) and healthcare drove over half of Hong Kong’s cash market turnover, and technology-driven companies represent the majority of IPO fundraising.

The breadth of Hong Kong’s technology ecosystem now sits at meaningful scale: Hong Kong’s biotech and pharmaceutical sector has grown to more than 270 listed companies with a combined market capitalisation of over HK$5 trillion, while the city’s new energy ecosystem extends from car makers to battery, radar and auto-technology firms.

By mid-May 2026, companies across the AI value chain had raised nearly US$10 billion in Hong Kong, with more than 70 companies in the listing pipeline. 

Equally important is how the index is constructed.

All constituents must be eligible for Southbound Stock Connect, linking the benchmark directly to one of the most important channels of investor access to Hong Kong equities.

Southbound average daily turnover (ADT) reached HK$121.5 billion year-to-date as at 31 May 2026, accounting for around 20% of Hong Kong’s cash market turnover. Within the Southbound trading, ETF average turnover reached HK$6.3 billion, up 62.4% year-on-year.

The index also incorporates a fast-entry mechanism, allowing qualifying companies to be included shortly after becoming Stock Connect-eligible rather than waiting for the next scheduled review.

This is particularly significant amid the fast pace of listings among AI, robotics and semiconductor companies. Recent additions to the index include Zhipu AI, Biren Technology and Iluvatar CoreX, which were all included within days of becoming Stock Connect-eligible.  

The significance of the HKEX Tech 100 extends beyond the benchmark itself.

HKEX’s index strategy is designed to support a broader market ecosystem, in which indices can anchor ETFs and other investment products. From this foundation, benchmark creation can support ETF issuance, investor participation and broader market liquidity.

The launch of the E Fund (HK) HKEX Tech 100 Index ETF marks an important early step in that process, moving HKEX’s index strategy from capability building to commercial execution.

As the first investment product tracking an HKEX-developed proprietary equity index, it demonstrates how benchmark creation can translate into investable products and broader participation.

Taken together, this makes the HKEX Tech 100 more than a snapshot of today’s market. It is a benchmark designed to evolve with Hong Kong’s innovation ecosystem – broader in coverage, closer to key access channels and more responsive to the industry leaders of tomorrow.