Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Friday) it is collaborating with leading index compiler Hang Seng Indexes Company Limited (HSIL) to jointly launch an index tracking the largest Chinese companies in the vibrant Stock Connect universe, supporting the development of Hong Kong’s capital market product ecosystem.
The Hang Seng HKEX Stock Connect China Enterprises Index (SCCEA Index) will be the first co-branded index between HKEX and HSIL when it launches on 21 November 2024.
Constituents of the index include the 80 largest Chinese companies by market capitalisation listed on the Hong Kong, Shanghai and Shenzhen stock exchanges that are traded on Stock Connect. With a balanced sector representation, this cross-market index will offer global investors a comprehensive and authoritative benchmark to capture the investment opportunities in China.
HKEX Chief Executive Officer, Bonnie Y Chan, said: "As HKEX celebrates 10 years of Stock Connect, we are delighted to be partnering with Hang Seng Indexes Company in this initiative, bringing together the expertise of one of the world’s leading exchange groups with the region’s leading index compiler. Stock Connect has fundamentally transformed the relevance and competitiveness of Hong Kong’s markets, and the launch of the Stock Connect China Enterprises Index underscores our ongoing commitment to further elevating the connectivity between Mainland China and international markets, providing investors with even more choice and opportunity, as we continue to explore adjacencies. We look forward to working closely with asset managers, issuers and market participants on new product innovations based on this index, further enriching the Stock Connect ecosystem to support the depth and breadth of Hong Kong’s capital markets.”
Hang Seng Indexes Company Chief Executive Officer, Anita Mo, said: “Today, I am delighted to announce the launch of the SCCEA with HKEX. The SCCEA is a comprehensive China index, an extension of our flagship HSCEI that incorporates large-cap A-shares, helping investors capture China exposure through Stock Connect. By capitalising on the combined strengths of HSIL and HKEX, as well as the growing trading turnover under Stock Connect, the introduction of the SCCEA will further support Hong Kong’s role as a super connector between the mainland China and the rest of the world.”
HKEX and HSIL will work together on driving awareness for the new co-branded index, helping to promote Hong Kong as the premier international financial centre for China-related investments. The SCCEA Index will be distributed by both HKEX and HSIL through their respective channels from 21 November 2024.
Methodology and additional information about the SCCEA Index will be available on the HKEX and HSIL websites from the index launch date.
