Mirae Asset Bolsters Tech ETF Line-up with Global X Hang Seng TECH ETF

  • The launch of Global X Hang Seng TECH ETF (2837) is part of Mirae Asset’s broader strategy of expanding its presence in technology themes
  • With a total of 25 ETFs listed in Hong Kong, Mirae Asset is well-positioned to meet the growing investors’ demand for innovative and thematic investment products

 

March 30, 2023, Hong Kong – Mirae Asset Global Investments (Hong Kong) Limited, (the “Firm” or “Mirae Asset”)  today announced the launch of its new Global X Hang Seng TECH ETF (2837), offering investors a broad-based and efficient investment tool to gain access to the innovative tech sector with high growth potential.

The Global X Hang Seng TECH ETF (2837) tracks the Hang Seng TECH Index, which represents the 30 largest technology companies listed in Hong Kong that have high business exposure to technology themes and pass the index’s screening criteria.  The index covers sectors classified under information technology, consumer discretionary, healthcare, industrials, and financials. It targets those with high business exposure to the selected technology themes, such as Cloud, Digital, Ecommerce, FinTech, or Internet or autonomous activities.

The Hang Seng TECH Index comprises some of the most innovative and dynamic companies in Hong Kong’s technology landscape, with a total market capitalization of approximately HKD 9.8 trillion as of March 28, 20231. As a leading ETF provider, Mirae Asset remains dedicated to offering our clients access to dynamic and emerging themes.

Mr. Wanyoun CHO, Chief Executive Officer of Mirae Asset Global Investments (Hong Kong) Limited said: “We are delighted to launch the Global X Hang Seng TECH ETF (2837), which provides investors with a simple and efficient way to invest in the fast-growing technology sector in Hong Kong. By introducing this broad TECH index-based ETF to its thematic-focus product line-up, Mirae Asset demonstrates its commitment to providing innovative investment solutions that meet the evolving needs of its clients in the region.”

HKEX has just announced the new listing rules for Specialist Technology Companies to be effective from March 31, 2023. This provides a new listing pathway for the new economy sector, which includes artificial intelligence.

Mr. Cho added, “With the recent favorable market development on tech companies listing, and the artificial intelligence (AI) technology advancement, we see long-term and sustainable growth potential in the technology sector.”

The Global X Hang Seng TECH ETF (2837) tracks the Hang Seng TECH Index, with a total expense ratio of up to 0.45% for the first 12 months. It is available for both retail and institutional investors, trading on the Hong Kong Stock Exchange during normal trading hours. With this new ETF, the firm has a total of 25 ETFs listed in Hong Kong, covering thematic growth, ESG, core, income, and commodities ETFs.