Also known as: 恒生科技指數 · HSTECH Index (Bloomberg) · .HSTECH (RIC)
At a glance
- Weighting schemeFree float market cap
- Constituent count30
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 10 fields | |||
| Target company count | 30 companies | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The index represents 30 technology companies. |
| Index name | Hang Seng TECH Index | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The index is the Hang Seng TECH Index, based on the document family identifier and stated technology-company objective. |
| Administrator | Hang Seng Indexes Co Ltd | This methodology document should be read in conjunction with the Index Methodology General Guide on Hang Seng Indexes Co Ltd (“HSIL”)’s website.Open p.1 ↗ |
Hang Seng Indexes Co Ltd is the benchmark administrator and index provider. |
| Methodology version | 1.4 | 1.4 March 2026 Added Appendix: Relevant Tech Sub-ThemesOpen p.5 ↗ |
The latest methodology version shown in the amendment history is 1.4. |
| Methodology date | 2026-03 | 1.4 March 2026 Added Appendix: Relevant Tech Sub-ThemesOpen p.5 ↗ |
Version 1.4 of the methodology is dated March 2026. |
| Objective | To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The index aims to represent the 30 largest technology companies listed in Hong Kong that have high business exposure to the technology themes. |
| Market classification | Hk connect | It includes companies that are listed on the Main Board of the HKEX;Open p.1 ↗ |
The index covers companies listed in Hong Kong on the Main Board of HKEX. |
| Size segment | Large | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The index targets the 30 largest technology companies listed in Hong Kong. |
| Index family type | Thematic | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The index is a technology-theme index rather than a broad market index. |
| Limitations | There may be exceptions in special situations, and HSIL reserves the right to determine the most appropriate handling. | Readers are reminded that there might be exceptions in the index handling to the below general approach in some special situations and HSIL reserves the right to determine the most appropriate handling.Open p.1 ↗ |
The methodology may be subject to exceptions in special situations, and HSIL may determine the most appropriate handling. |
| M2 Universe · 5 fields | |||
| Primary listed foreign companies included | Yes | 1.2 October 2021 starting from November 2021 index review) Added Primary-listed Foreign Companies to the universeOpen p.5 ↗ |
Primary-listed foreign companies were added to the universe effective from the November 2021 index review. |
| Markets | Hong Kong | Objective To represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Technology Themes UniverseOpen p.1 ↗ |
The universe covers companies listed in Hong Kong. |
| Exchanges | HKEX | It includes companies that are listed on the Main Board of the HKEX;Open p.1 ↗ |
Companies must be listed on HKEX. |
| Boards | Main Board | It includes companies that are listed on the Main Board of the HKEX;Open p.1 ↗ |
The universe includes companies listed on the Main Board of HKEX. |
| Exclusions | Secondary-listed foreign companies, Investment companies listed under Chapter 21 of HKEX's Listing Rules | It excludes secondary-listed Foreign Companies and Investment Companies listed under Chapter 21 of HKEX’s Listing RulesOpen p.1 ↗ |
The universe excludes secondary-listed foreign companies and investment companies listed under Chapter 21 of the HKEX Listing Rules. |
| M3 Eligibility screens · 8 fields | |||
| Eligible industry codes | Code: 10; Industry: Industrials, Code: 23; Industry: Consumer Discretionary, Code: 28; Industry: Healthcare, Code: 50; Industry: Financials, Code: 70; Industry: Information Technology | 10 Industrials 23 Consumer Discretionary 28 Healthcare 50 Financials 70 Information TechnologyOpen p.2 ↗ |
Eligible companies must be classified in one of five specified Hang Seng Industry Classification System industries. |
| Technology themes | Internet (including Mobile), FinTech, Cloud, E-commerce, Digital, Autonomous | Internet (including Mobile); FinTech; Cloud; E-commerce; Digital; or AutonomousOpen p.2 ↗ |
A company must have high business exposure to at least one of the six stated technology themes. |
| Innovation screening options | Technology-enabled business, R&D Expense to Revenue Ratio >= 5%, YoY Revenue Growth >= 10% | Innovation Screening^ Meeting at least one of the below criteria: Technology-enabled business (e.g. via internet/ mobile platform); or R&D Expense to Revenue Ratio >=5%; or YoY Revenue Growth >=10%Open p.2 ↗ |
A company must meet at least one innovation criterion: a technology-enabled business, R&D expense to revenue of at least 5%, or year-over-year revenue growth of at least 10%. |
| Research and development expense to revenue ratio | 5% | R&D Expense to Revenue Ratio >=5%Open p.2 ↗ |
One innovation-screening option is an R&D expense to revenue ratio of at least 5%. |
| Year over year revenue growth | 10% | YoY Revenue Growth >=10%Open p.2 ↗ |
One innovation-screening option is year-over-year revenue growth of at least 10%. |
| Relevant tech sub theme assessment | Yes | The Tech Themes in the Theme Requirements are associated with the following Tech Sub-Themes, and eligible securities are assessed to have high exposure to at least one of the Tech Themes or associated Tech Sub-Themes.Open p.4 ↗ |
Eligible securities are assessed as having high exposure to at least one technology theme or associated technology sub-theme. |
| Liquidity screen | Metric: Liquidity ratio | Turnover Requirements Velocity Test for Tradable Indexes Sector Requirements^ Classified in one of the following industries in the Hang Seng Industry Classification System:Open p.1 ↗ |
Eligibility is subject to a turnover velocity test for tradable indexes, although the supplied text does not specify the measurement window or numerical threshold. |
| Business or ESG exclusions | Must be classified in Industrials, Consumer Discretionary, Healthcare, Financials, or Information Technology under the Hang Seng Industry Classification System, Must have high business exposure to Internet, FinTech, Cloud, E-commerce, Digital, or Autonomous innovation, Must have a technology-enabled business, R&D expense to revenue ratio of at least 5%, or year-over-year revenue growth of at least 10% | Theme Requirements^ High business exposure to at least one of the below Tech Themes*: Internet (including Mobile); FinTech; Cloud; E-commerce; Digital; or AutonomousOpen p.2 ↗ |
Companies must satisfy the specified sector, technology-theme, and innovation-screening requirements. |
| M4 Selection and constituent count · 7 fields | |||
| Buffer zone | Existing constituent removal rank: lower than 36th; Non constituent addition rank: 24th or above; Target count: 30 | Existing constituents ranked lower than 36th will be Buffer Zone removed from the index, while non-constituents ranked 24th or above will be included; Securities will be added or excluded according to their MV Rank to maintain the number of constituents at 30Open p.2 ↗ |
Existing constituents ranked lower than 36th are removed, non-constituents ranked 24th or higher are added, and changes maintain 30 constituents. |
| Fast entry | Ranking threshold: within top 10 existing constituents by full market capitalisation on first trading day; Implementation: after close of the 10th trading day of the new issue | A newly listed security will be added to index if its full market capitalisation ranks within the top 10 of the existing constituents on its first trading day The ad hoc addition will normally be implemented after the close of the 10th trading day of the new issueOpen p.3 ↗ |
A newly listed security is fast-entered if its full market capitalisation on its first trading day ranks within the top 10 existing constituents, normally after the close of its 10th trading day. |
| Selection method | Rank by metric | The top 30 securities with the highest MV Rank will be selected as constituentsOpen p.2 ↗ |
Securities are selected by ranking eligible securities by market-value rank and choosing the highest-ranked names. |
| Ranking metrics | Name: Market value rank; Direction: Descending; Step order: 1 | The top 30 securities with the highest MV Rank will be selected as constituentsOpen p.2 ↗ |
The ranking metric is MV Rank, with the highest-ranked securities selected. |
| Target constituent count | 30 | Number of Constituents Fixed at 30Open p.2 ↗ |
The index targets a fixed count of 30 constituents. |
| Industry neutrality rule | — | — (not found verbatim in the PDF) |
The section does not specify an industry-neutrality rule for constituent selection. |
| Reserve list | Size rule: highest-ranked candidate from the last regular review replaces an ad-hoc removal | Yes, the outgoing constituent will be replaced by the highest ranked candidate from last regular reviewOpen p.3 ↗ (not found verbatim in the PDF) |
For an ad-hoc removal, the outgoing constituent is replaced by the highest-ranked candidate from the last regular review. |
| M5 Weighting and capping · 7 fields | |||
| Non foreign company individual cap (%) | 8% | Capping Non-Foreign Companies Constituent: 8% (individual)Open p.3 ↗ |
Each non-foreign-company constituent is capped at 8%. |
| Foreign company individual cap (%) | 4% | Foreign Companies Constituent: 4% (individual); 10% (aggregate)Open p.3 ↗ |
Each foreign-company constituent is capped at 4%. |
| Foreign company aggregate cap (%) | 10% | Foreign Companies Constituent: 4% (individual); 10% (aggregate)Open p.3 ↗ |
Foreign-company constituents have an aggregate weighting cap of 10%. |
| Weighting scheme | Free float market cap | Weighting Freefloat-adjusted market capitalisation weightedOpen p.3 ↗ |
The index is weighted by freefloat-adjusted market capitalisation. |
| Free float factor | Method: Free float | Weighting Freefloat-adjusted market capitalisation weightedOpen p.3 ↗ |
Weighting uses a freefloat-adjusted market-capitalisation methodology, but no factor bands are stated in this section. |
| Weight cap | — | Capping Non-Foreign Companies Constituent: 8% (individual) Foreign Companies Constituent: 4% (individual); 10% (aggregate)Open p.3 ↗ |
Individual capping depends on company type: 8% for non-foreign companies and 4% for foreign companies, so no single universal cap is stated. |
| Group cap | Scope: Foreign companies; Aggregate (%): 10 | Foreign Companies Constituent: 4% (individual); 10% (aggregate)Open p.3 ↗ |
Foreign-company constituents have an aggregate cap of 10%. |
| M10 Governance, change policy, disclosure · 2 fields | |||
| Supplementary general guide | This methodology document should be read in conjunction with the Index Methodology General Guide on HSIL's website. | This methodology document should be read in conjunction with the Index Methodology General Guide on Hang Seng Indexes Co Ltd (“HSIL”)’s website.Open p.1 ↗ |
The methodology document is intended to be read together with the Index Methodology General Guide published on HSIL's website. |
| Discretion in special situations | HSIL reserves the right to determine the most appropriate handling in special situations where exceptions to the general approach arise. | Readers are reminded that there might be exceptions in the index handling to the below general approach in some special situations and HSIL reserves the right to determine the most appropriate handling.Open p.1 ↗ |
HSIL may determine the most appropriate handling in special situations that are exceptions to the general index-handling approach. |
Open points · 41Model-written, for reference
- 1Official index short name, ticker or index code is not printed.
- 2Index ISIN and third-party vendor tickers are not printed.
- 3Launch date, base date, base value, and calculation currency are not stated.
- 4Calculation agent, benchmark regulatory status, intended use, and parent index are not stated.
- 5Security type or share-class eligibility is not specified.
- 6Minimum listing history is not stated.
- 7The turnover velocity test window and numerical threshold are not stated.
- 8Minimum market-capitalisation or rank threshold for eligibility is not stated.
- 9Minimum free float, foreign room, voting rights, and minimum price screens are not stated.
- 10Suspension treatment and extreme-price screening are not stated.
- 11No explicit tie-breaking rule is stated for securities with equal MV Rank.
- 12The section does not specify the free-float factor bands or calculation method beyond freefloat-adjusted weighting.
- 13The section does not state capping application timing, such as at review, daily, or quarterly.
- 14The section does not identify the source or update timing for issued shares.
- 15The section does not provide a divisor-adjustment rule for weight resets.
- 16The section does not state domestic inclusion factors or foreign-ownership-limit treatment.
- 17The section does not specify sector or country caps.
- 18Formula type not stated text.
- 19Price source not stated text.
- 20Calculation frequency not stated text.
- 21Calculation returns.precision not stated text.
- 22Return variants not stated text.
- 23Withholding tax basis not stated text.
- 24Dividend treatment not stated text.
- 25Divisor adjustment events not stated text.
- 26Market disruption rule not stated text.
- 27Recalculation policy not stated text.
- 28Oversight body not stated text.
- 29Methodology review frequency not stated text.
- 30External review not stated text.
- 31Material change definition not stated text.
- 32Consultation procedure not stated text.
- 33Notice period not stated text.
- 34Error correction policy not stated text.
- 35Disclosure channels not stated text.
- 36Constituents published not stated text.
- 37Cessation policy not stated text.
- 38Not coveredM6 Review and rebalance schedule: not covered by this edition
- 39Not coveredM7 Buffers and turnover control: not covered by this edition
- 40Not coveredM8 Corporate actions, IPOs, ad-hoc changes: not covered by this edition
- 41Not coveredM9 Calculation and return variants: not covered by this edition
Read by a language model (doubao-seed-2.1-pro) on 2026-10-03 · prompt 1.2 · schema 1 · 37 of 38 quotes found word for word in the PDF
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