Hang Seng Tech Index plans AI and robotics expansion

Hang Seng Indexes Company has proposed expanding Hong Kong's Hang Seng Tech Index from 30 to 50 companies and adding artificial intelligence and robotics themes as the city's technology sector broadens.

The index, launched in 2020, tracks the 30 largest technology companies listed in Hong Kong. Hang Seng Indexes Company said in a market consultation document released on August 10 that the benchmark has $40.4 billion in assets tracking it.

The proposed overhaul would reshape the index's six technology themes to include digital platforms, advanced hardware, cloud, frontier technology, artificial intelligence and robotics. Sub-themes would increase from 16 to 24, with quantum computing and aerospace and satellite technology among the new categories.

The company said the proposed changes are intended to expand technology coverage, refine constituent selection and keep the index representative of the changing sector.

Hang Seng Indexes Company is seeking feedback until September 18. The changes are expected to be announced by the end of September.

Hong Kong has seen major listings by Chinese AI-related companies seeking overseas funds in the city.