The Hong Kong Stock Exchange (00388.HK) has achieved a major breakthrough in its index business. The first batch of exchange-traded funds (ETFs) tracking HKEX cross-market indices officially listed today (September 28). Speaking at the listing ceremony, CEO Bonnie Chan described the launch as a “very important milestone” for the group’s index business development, saying it will further boost market vitality across the stock, ETF, and derivatives product ecosystem while broadening investor choices.
A total of eight ETFs listed simultaneously today, three of which are among the first batch of products tracking HKEX cross-market indices—specifically the “HKEX Technology and US Tech 100 Index,” the “HKEX Bursa Malaysia Main Market Index,” and the “HKEX Korea Exchange Semiconductor Index.” HKEX stated that four ETFs tracking these three cross-market indices have listed progressively this month, representing the first investment products to track these three indices.
The three indices were launched earlier this year with the aim of strengthening connections between Hong Kong and major international markets. Among them, the Bursa Malaysia Main Market Index and the Korea Exchange Semiconductor Index are co-branded indices developed through partnerships between HKEX and Bursa Malaysia and the Korea Exchange, respectively.
Chan noted that Hong Kong’s market has shown renewed vitality over the past two years, with global investors beginning to adjust their long-held asset allocation perspectives. Innovation across the region has also attracted numerous companies to list in Hong Kong. She said HKEX is actively building the conditions to drive ecosystem development across all asset classes, with index business development being a key strategic component.
She further emphasized that HKEX will continue to vigorously expand its index business, strengthen cooperation with exchange partners and industry players, and actively promote product development and innovation to provide the market with more diverse investment tools.
In terms of first-day trading performance, the eight newly listed ETFs showed mixed early movement. The Hang Seng AI Evolution ETF and the Huatai-Ping An HKEX Korea Exchange Semiconductor Index ETF posted larger declines, falling more than 3% at one point. The Guotai Haitong Global Future Tech ETF and Guotai Haitong Global Strategic Resources ETF rose nearly 6% before turning slightly negative. The remaining ETFs held relatively steady in early trading.
HKEX has in recent years consistently treated its index business as a strategic priority, launching co-branded indices through partnerships with overseas exchanges and then guiding asset management companies to issue ETF products tracking those indices—forming a complete industry chain from index design to product launch. The debut of these cross-market index ETFs is viewed by the market as a concrete step by HKEX to strengthen its role as a connector in the international financial center, while also providing investors with direct access to Malaysian, South Korean, and US technology stocks.
Industry observers believe that as global investors’ demand for Asian market allocation rises, cross-border index products help reduce single-market risk while enhancing the product depth and liquidity of the Hong Kong market. If HKEX can continue to launch differentiated index tools, it will help consolidate its competitive position in the Asia-Pacific ETF market.
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