SMIC

HKEX launches AI Index, Southern Asset Management authorized for ETF

HKEX launched its first AI-themed index, HKEX AI, covering four segments: AI chips, infrastructure, models, and applications. The index has 40 constituents, including SMIC, Alibaba, Tencent, and next-gen AI firms like Biren Technology, Zhipu AI, and MiniMax. HKEX authorized Southern Asset Management to launch an ETF tracking the index in mainland China. Constituents must meet R&D and capex thresholds of at least 3% of sales each and sales growth of at least 5% over two years; individual weights are capped at 10% (3% for applications), with quarterly rebalancing.