CSOP brings CSOP Hang Seng Tech Index ETF on HK Stock Exchange

KUALA LUMPUR, Aug 28 -- CSOP Asset Management Limited (CSOP) has announced the listing of the CSOP Hang Seng TECH Index ETF on the Hong Kong Stock Exchange.

The CSOP Hang Seng TECH Index ETF will give global investors investment opportunities brought by the fast growing technology sector and increasing number of technology companies listed in Hong Kong.

With listing price at around HKD 7.5 per unit, trading lot of 200 and management fee of 0.99 per cent, the CSOP Hang Seng TECH Index ETF will start to trade Friday.

According to a statement, upon inception, 3033.HK has received US$24 million initial investment. (US$1 = RM4.171)

As numerous Chinese technology giants chose Hong Kong as the secondary listing place, Hang Seng TECH Index was launched to track the 30 largest technology companies listed in Hong Kong.

Designed as one of the flagship indices of Hang Seng Index Company Limited, the index consists of Hong Kong-listed companies that have high business exposure to selected technology themes, including Internet, fintech, cloud, e-commerce, and digital activities.

Eligible stocks will be further filtered by criteria of whether they operate via a technology-enabled platform, their research and development expenses to revenue ratio, and revenue growth.

The qualified largest 30 stocks in terms of market capitalisation will be selected as index constituents with quarterly review.

-- BERNAMA