Hong Kong Exchanges and Clearing Limited (HKEX) announced Friday that it has teamed up with Hang Seng Indexes Company Limited (HSIL) to introduce the Hang Seng HKEX Stock Connect China Enterprises Index (SCCEA Index).
HKEX and Hang Seng Indexes Launch New China-Focused Stock Connect Index
The firm explained that the index is a new benchmark capturing top Chinese firms listed on the Stock Connect programme.
It is set to launch on 21 November 2024 and will feature the 80 largest Chinese companies by market capitalisation listed on the Hong Kong, Shanghai, and Shenzhen exchanges.
The SCCEA Index is the first co-branded venture between HKEX and HSIL. The two exchanges believe it represents a balanced cross-sector view of the Stock Connect universe.
Aimed at global investors, the index provides a measure of Chinese market opportunities and highlights Hong Kong’s role in connecting Mainland China to international markets.
Bonnie Y Chan, CEO of HKEX, stated: “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.”
Anita Mo, CEO of HSIL, added: “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.”
HKEX and HSIL will promote the index through their platforms, with the SCCEA Index available from 21 November.
