Pedestrians pass an electronic board showing the numbers for the Hang Seng Index in Hong Kong on Dec 5, 2022. (PETER PARKS / AFP)
HONG KONG – Hang Seng Indexes Company on Monday launched the Hang Seng SCHK China Central State-owned Enterprises (SOEs) Index, which rides on the trend of SOEs' improved efficiency and competitiveness.
The index aims to reflect the performance of stocks listed in Hong Kong with the nation's central SOEs of the State-owned Assets Supervision and Administration Commission of the State Council as the largest shareholder, and are eligible for trading via the southbound trading link of the Stock Connect scheme.
ALSO READ: HK's finance sector amped up in tandem with mainland's
As of May 15, the top four sectors with the highest weightings in the index were energy (27.1 percent), properties and construction (16.7 percent), telecommunications (16.1 percent) and consumer staples (9.0 percent).
In light of ongoing SOEs reform, it is expected that SOEs will continue to serve as the key driver of China's rapid economic growth, and the launch of index will help investors to capture the opportunity related to SOEs, said Chief Index Officer at Hang Seng Indexes Company Daniel Wong.
READ MORE: Chan: HK preparing to launch RMB counter for Stock Connect
The index has a fixed number of 50 constituents. Its base date is set at Dec 31, 2018 and has a base value of 3,000.