HKEX Monthly Market Highlights

Highlights

- Securities Market

Market capitalisation was $46.8 trillion at the end of July 2026, an increase of 4 per cent from $44.9 trillion for the same period last year.
The average daily turnover in July 2026 was $307.2 billion, an increase of 17 per cent from $262.9 billion for the same period last year.
The average daily turnover for the first seven months of 2026 was $286.8 billion, an increase of 18 per cent when compared with $243.7 billion for the same period last year.
The average daily turnover of CBBCs for the first seven months of 2026 was $13.1 billion, an increase of 36 per cent when compared with $9.6 billion for the same period last year.
The average daily turnover of ETFs for the first seven months of 2026 was $40.6 billion, an increase of 22 per cent when compared with $33.3 billion for the same period last year.
The average daily turnover of L&I Products for the first seven months of 2026 was $10.5 billion, an increase of 169 per cent when compared with $3.9 billion for the same period last year.
There were 104* newly listed companies for the first seven months of 2026, an increase of 96 per cent when compared with 53** for the same period last year.
Funds raised through IPOs# for the first seven months of 2026 was $328.2 billion, an increase of 154 per cent when compared with $129.3 billion for the same period last year.
Total funds raised for the first seven months of 2026 was $528.0 billion, an increase of 57 per cent when compared with $337.0 billion for the same period last year.
There were 23 newly listed debt securities in July 2026, raising a total of HK$103.5 billion equivalent.
Total debt issuance volume for the first seven months of 2026 was HK$581.3 billion equivalent, with 154 debt securities newly listed.

- Derivatives Market

The average daily volume of futures and options for the first seven months of 2026 was 1,797,288 contracts, an increase of 8 per cent when compared with the 1,671,497 contracts for the same period last year.
The average daily volume of equity index futures for the first seven months of 2026 was 641,024 contracts, an increase of 12 per cent when compared with the 572,795 contracts for the same period last year.
The average daily volume of equity index options for the first seven months of 2026 was 144,981 contracts, an increase of 29 per cent when compared with the 112,708 contracts for the same period last year.
The average daily volume of Stock Options for the first seven months of 2026 was 925,701 contracts, an increase of 7 per cent when compared with the 864,892 contracts for the same period last year.
On 24 July 2026, the volume of USD Gold Futures reached a record high of 18,029 contracts.
On 30 July 2026, the volume of Weekly Hang Seng TECH Index Options reached a record high of 14,015 contracts.

* Includes 2 listings from GEM to Main Board
** Includes 1 listing from GEM to Main Board and 1 de-SPAC transaction
# Includes fund raised by initial offering by way of subscription, sales and placing

Listed Securities (Main Board and GEM)

Month-end figures

	Jul 2026	Jul 2025	End 2025
No. of listed companies	2,763	2,651	2,686
Total market capitalisation ($Bil.)	46,838.9	44,883.2	47,392.5
No. of newly listed companies *	17	9	119
No. of listed securities	17,245	15,506	16,969
No. of SPAC shares	-	1	0
No. of equity warrants (excluding SPAC warrants)	6	4	5
No. of SPAC warrants	-	1	0
No. of derivatives warrants	7,219	5,804	7,012
No. of inline warrants	-	-	-
No. of CBBCs	5,664	5,420	5,673
No. of unit trusts	262	227	240
No. of debt securities	1,329	1,396	1,351

* Includes the number of transfer of listings from GEM to Main Board

Number of Newly Listed Securities (Main Board and GEM)

	Jul 2026	Jul 2025	2025
Derivatives warrants	948	850	10,266
CBBCs	2,751	2,271	31,444
Unit trusts	1	3	48
Debt securities	23	34	329

Securities Market Turnover (Main Board and GEM)

	Jul 2026	Jun 2026	% Change
Monthly turnover ($Mil.) *	6,759,169	6,700,591	0.9%
Average daily turnover by value ($Mil.) *	307,235	319,076	-3.7%
No. of trading days	22	21	-

* Turnover value for securities traded in non-Hong Kong dollar currency have been included

Stock Connect Summary

	Jul 2026	Jun 2026	% Change
Total Northbound average daily turnover by value (RMB Mil) (For ETF and Stocks)	369,758	403,108	-8.3%
Total Southbound average daily turnover by value ($ Mil) (For ETF and Stocks)	129,216	130,016	-0.6%
No. of Northbound trading days	22	21	-
No. of Southbound trading days	22	21	-

Turnover by Type of Securities (Main Board and GEM)

	Jul 2026 ($Mil)	Jun 2026 ($Mil)	% Change
Equities	4,885,130.06 (72.3%)	4,946,127.35 (73.8%)	-1.2%
Derivative warrants	123,512.21 (1.8%)	116,093.58 (1.7%)	6.4%
CBBCs	297,933.28 (4.4%)	286,371.98 (4.3%)	4.0%
Unit Trusts (include ETFs)	1,446,703.41 (21.4%)	1,343,237.87 (20.0%)	7.7%

Jul 2026

($Mil)

Jun 2026

($Mil)

% Change

Equities

4,885,130.06

(72.3%)

4,946,127.35

(73.8%)

-1.2%

Derivative warrants

123,512.21

(1.8%)

116,093.58

(1.7%)

6.4%

CBBCs

297,933.28

(4.4%)

286,371.98

(4.3%)

4.0%

Unit Trusts

(include ETFs)

1,446,703.41

(21.4%)

1,343,237.87

(20.0%)

7.7%

( ) % of market total
Turnover value for securities traded in non-Hong Kong dollar currency have been included

Average Daily Turnover by Type of Securities (Main Board and GEM)

	Jul 2026 ($Mil)	Jun 2026 ($Mil)	% Change
Equities	222,051.37	235,529.87	-5.7%
Derivative warrants	5,614.19	5,528.27	1.6%
CBBCs	13,542.42	13,636.76	-0.7%
Unit trusts (include ETFs)	65,759.25	63,963.71	2.8%
Others	267.72	417.16	-35.8%
Total	307,234.94	319,075.76	-3.7%

Turnover value for securities traded in non-Hong Kong dollar currency have been included

Mainland Enterprises (Main Board and GEM)

Month-end figures

	Jul 2026	Jul 2025	End 2025
No. of H shares	524	393	433
No. of Non-H share Mainland enterprises	1,117	1,118	1,119
Market capitalisation (% of market total)	77.4%	80.7%	79.3%
Turnover value (% of equity turnover)	91.9%	89.9%	90.9%

Index Performance

Month-end figures

	Jul 2026	% Change over 1 Month	% Change over 12 Months
S&P/HKEX LargeCap Index	35521.59	14.5%	-2.5%
S&P/HKEX GEM Index	19.52	-2.4%	4.8%
Hang Seng Index	25884.43	13.1%	4.5%
Hang Seng China Enterprises Index	8612.15	13.9%	-3.0%
Hang Seng China-Affiliated Corporations Index*	4193.12	14.3%	-1.3%
CES China 120 Index ^	6589.14	4.1%	-1.3%
CES China HK Mainland Index +	6581.91	14.0%	-1.9%

* - tracks Red chips
^ - tracks 80 Mainland-listed companies and 40 Hong Kong-listed Mainland enterprises
+ - tracks 40 Hong Kong-listed Mainland enterprises

Derivatives Market Turnover

	Average Daily Volume (Contracts)*
	Jul 2026	Jun 2026	% Change
Total Futures	764,826	760,554	0.6%
Hang Seng Index Futures	135,324	137,265	-1.4%
Mini Hang Seng Index Futures	109,056	90,109	21.0%
HSI (Gross Total Return Index) Futures	0	0	-
HSI (Net Total Return Index) Futures	0	0	-
Hang Seng China Enterprises Index Futures	180,990	186,534	-3.0%
Mini-Hang Seng China Enterprises Index Futures	10,213	9,594	6.5%
HSCEI (Gross Total Return Index) Futures	0	0	-
HSCEI (Net Total Return Index) Futures	0	0	-
HSI Dividend Point Index Futures	0	0	-
HSCEI Dividend Point Index Futures	136	121	12.4%
HSI Volatility Index Futures	0	0	-
Hang Seng TECH Index Futures	226,464	233,390	-3.0%
Hang Seng Biotech Index Futures	326	376	-13.3%
MSCI AC Asia ex Japan NTR Index Futures	81	1,025	-92.1%
MSCI Australia Net Total Return (USD) Index Futures	0	0	-
MSCI China A 50 Connect (USD) Index Futures	19,965	16,506	21.0%
MSCI China (USD) Index Futures	0	0	-
MSCI China Net Total Return (USD) Index Futures	73	915	-92.0%
MSCI EM Asia ex China Net Total Return (USD) Index Futures	0	0	-
MSCI EM Asia ex Korea Net Total Return (USD) Index Futures	0	0	-
MSCI EM Asia Net Total Return (USD) Index Futures	9	35	-74.3%
MSCI EM EMEA Net Total Return (USD) Index Futures	0	0	-
MSCI EM ex China Net Total Return (USD) Index Futures	0	0	-
MSCI EM ex Korea Net Total Return (USD) Index Futures	0	0	-
MSCI EM LatAm Net Total Return (USD) Index Futures	0	0	-
MSCI Emerging Markets (USD) Index Futures	0	0	-
MSCI Emerging Markets Net Total Return (USD) Index Futures	0	17	-100.0%
MSCI Hong Kong Net Total Return (USD) Index Futures	55	83	-33.7%
MSCI India (USD) Index Futures	16	68	-76.5%
MSCI India Net Total Return (USD) Index Futures	4	40	-90.0%
MSCI Indonesia (USD) Index Futures	0	0	-
MSCI Indonesia Net Total Return (USD) Index Futures	34	3	1033.3%
MSCI Japan Net Total Return (USD) Index Futures	0	0	-
MSCI Malaysia (USD) Index Futures	0	0	-
MSCI Malaysia Net Total Return (USD) Index Futures	0	1	-100.0%
MSCI New Zealand Net Total Return (USD) Index Futures	0	0	-
MSCI Pacific ex Japan Net Total Return (USD) Index Futures	0	0	-
MSCI Pacific Net Total Return (USD) Index Futures	0	0	-
MSCI Philippines (USD) Index Futures	0	0	-
MSCI Philippines Net Total Return (USD) Index Futures	0	0	-
MSCI Singapore Free (SGD) Index Futures	0	0	-
MSCI Singapore Free Net Total Return (USD) Index Futures	0	0	-
MSCI Singapore Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan (USD) Index Futures	3,382	4,424	-23.6%
MSCI Taiwan 25/50 (USD) Index Futures	2	3	-33.3%
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan Net Total Return (USD) Index Futures	2	116	-98.3%
MSCI Thailand (USD) Index Futures	0	0	-
MSCI Thailand Net Total Return (USD) Index Futures	10	5	100.0%
MSCI Vietnam (USD) Index Futures	0	0	-
MSCI Vietnam Net Total Return (USD) Index Futures	0	0	-
CES China 120 Index Futures	0	0	-
Hang Seng Mainland Banks Index Futures	0	0	-
Stock Futures	7,075	6,803	4.0%
3-Month HIBOR Futures	0	0	-
1-Month HIBOR Futures	0	0	-
RMB Currency Futures - USD/CNH Futures	63,341	72,931	-13.1%
RMB Currency Futures - Mini USD/CNH Futures	81	190	-57.4%
RMB Currency Futures - EUR/CNH Futures	0	0	-
RMB Currency Futures - JPY/CNH Futures	0	0	-
RMB Currency Futures - AUD/CNH Futures	0	0	-
RMB Currency Futures - CNH/USD Futures	0	0	-
INR Currency Futures - INR/USD Futures	0	0	-
INR Currency Futures - INR/CNH Futures	0	0	-
USD Gold Futures	8,187	0	-
CNH Gold Futures	0	0	-
USD Silver Futures	0	0	-
CNH Silver Futures	0	0	-
Iron Ore Futures – Monthly Contracts	0	0	-
Iron Ore Futures – Quarterly Contracts	0	0	-
CNH London Aluminium Mini Futures	0	0	-
CNH London Zinc Mini Futures	0	0	-
CNH London Copper Mini Futures	0	0	-
CNH London Lead Mini Futures	0	0	-
CNH London Nickel Mini Futures	0	0	-
CNH London Tin Mini Futures	0	0	-
USD London Aluminium Mini Futures	0	0	-
USD London Zinc Mini Futures	0	0	-
USD London Copper Mini Futures	0	0	-
USD London Lead Mini Futures	0	0	-
USD London Nickel Mini Futures	0	0	-
USD London Tin Mini Futures	0	0	-
Total Options	966,441	1,165,263	-17.1%
Hang Seng Index Options	17,998	21,189	-15.1%
Mini Hang Seng Index Options	18,803	19,573	-3.9%
Weekly Hang Seng Index Options	20,669	17,848	15.8%
Flexible Hang Seng Index Options	0	0	-
Hang Seng Index Futures Options	1,971	4,685	-57.9%
Hang Seng China Enterprises Index Options	23,844	33,342	-28.5%
Mini-Hang Seng China Enterprises Index Options	4,771	5,862	-18.6%
Weekly Hang Seng China Enterprises Index Options	2,320	3,083	-24.7%
Flexible Hang Seng China Enterprises Index Options	0	0	-
Hang Seng China Enterprises Index Futures Options	22,675	31,903	-28.9%
Hang Seng TECH Index Options	7,093	9,589	-26.0%
Weekly Hang Seng TECH Index Options	2,135	1,893	12.8%
Hang Seng TECH Index Futures Options	7,500	11,925	-37.1%
MSCI Taiwan (USD) Index Options	0	0	-
Stock Options	836,662	1,004,370	-16.7%
RMB Currency Options - USD/CNH Options	0	1	-100.0%
Total Futures and Options	1,731,267	1,925,817	-10.1%

* Total average daily volume is the sum of the respective average volume of the individual products
Note:
- Number of trading days for Jul 2026 and Jun 2026 are 23 days (with 1 holiday trading day) and 22 days (with 1 holiday trading day) respectively
- For list of holiday trading products, please see link here.

Clearing and Settlement

CCASS Statistics (securities market)	Jul 2026	Jun 2026	% Change
Average daily number of exchange trades settled by CCASS	4,784,955	4,793,131	-0.17%
Average daily number of settlement instructions (“SIs”) settled by CCASS	137,930	153,659	-10.24%
Average daily number of investor SIs (“ISIs”) settled by CCASS	128	124	3.23%
Average daily settlement efficiency of CNS stock positions on due day (T+2)	99.91	99.90	N/A
Average daily value of SIs settled by CCASS ($ Mil)	495,167.60	578,328.79	-14.38%
Shares deposited in the CCASS depository – % of total issued shares – % of the total market capitalisation	76.37 64.72	76.13 64.98	N/A N/A
DCASS Statistics (derivatives market)	Jul 2026	Jun 2026	% Change
Month-end Open Interest (contracts)
– Equity Index Futures	658,560	722,527	-8.9%
– Stock Futures	25,155	22,844	10.1%
– Interest Rates Futures	0	0	-
– RMB Currency Futures	30,508	29,672	2.8%
– INR Currency Futures	0	0	-
– Gold Futures	1,144	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	1,687,715	1,591,856	6.0%
– Stock Options	16,986,715	16,049,866	5.8%
– RMB Currency Options	189	188	0.5%

Year-to-date Statistics

Securities Market	Jul 2026 YTD	Jul 2025 YTD	% Change
No. of newly listed companies #	104	53	96.2%
Average daily turnover by value ($Mil.) ^	286,821	243,726	17.7%
Average share traded per trading day (Mil. Shares)	350,741	289,177	21.3%
Average no. of trades per trading day	4,392,475	3,581,468	22.6%
Fund raised by IPOs ($Mil.)*	328,214	129,259	153.9%
Total funds raised (including IPOs) ($Mil.)**	527,988	336,999	56.7%
Derivatives Market	Jul 2026 YTD	Jul 2025 YTD	% Change
*Average daily volume (contracts)*
– Equity Index Futures	641,024	572,795	11.9%
– Stock Futures	8,190	8,631	-5.1%
– Interest Rates Futures	0	5	-100.0%
– RMB Currency Futures	76,114	112,429	-32.3%
– INR Currency Futures	0	33	-100.0%
– Gold Futures	1,277	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	144,981	112,708	28.6%
– Stock Options	925,701	864,892	7.0%
– RMB Currency Options	1	4	-75.0%
Clearing & Settlement	Jul 2026 YTD	Jul 2025 YTD	% Change
Average daily number of exchange trades handled by CCASS	4,423,890	3,581,523	23.52%
Average daily number of settlement instructions (SIs) settled by CCASS	144,307	120,278	19.98%
Average daily number of investor SIs (ISIs) settled by CCASS	134	175	-23.16%

# Includes the number of transfer of listings from GEM to Main Board
^ Turnover value for traded in non-HKD currency securities have been included
* Includes fund raised by initial offering by way of subscription, sales and placing
** Provisional figures only

Historical Records

up to 31 Jul 2026

Top 10 Hang Seng Index Closes

Rank	Date	Close
1	2018/01/26	33154.12
2	2018/01/29	32966.89
3	2018/01/24	32958.69
4	2018/01/23	32930.70
5	2018/01/31	32887.27
6	2018/01/25	32654.45
7	2018/02/01	32642.09
8	2018/01/30	32607.29
9	2018/02/02	32601.78
10	2018/01/22	32393.41

Top 10 Daily Market Turnover

(Main Board and GEM)

Rank	Date	Turnover ($)
1	2025/04/07	621,004,299,400
2	2024/10/08	620,652,311,319
3	2024/09/30	505,919,660,550
4	2025/10/13	490,739,712,231
5	2026/05/29	462,159,353,909
6	2024/09/27	445,803,810,579
7	2024/10/02	434,202,623,180
8	2025/04/08	433,215,056,869
9	2024/10/09	427,128,350,282
10	2025/09/18	413,486,347,174

Top 10 Market Capitalisation

(Main Board and GEM)

Rank	Date	Market Capitalisation ($)
1	2021/02/17	58,672,185,510,043
2	2021/02/16	57,829,770,591,111
3	2021/02/19	57,502,986,918,920
4	2021/02/18	57,470,114,718,778
5	2021/02/11	56,844,960,338,845
6	2021/02/10	56,495,679,850,172
7	2021/02/22	56,276,247,080,503
8	2021/02/23	56,194,869,034,753
9	2021/02/09	55,171,603,385,082
10	2021/02/25	55,137,617,193,968

Record High for Top-10 Derivatives Market Products (Based on Contract Volume)

Product	Record High Daily Volume		Record High Open Interest
	Contracts	Date	Contracts	Date
Stock Options	2,433,968	2024/09/27	22,181,650	2026/06/26
Hang Seng China Enterprises Index Futures	651,086	2023/04/25	758,877	2022/12/28
Hang Seng TECH Index Futures	523,692	2026/05/26	337,041	2026/01/27
Hang Seng Index Futures	422,450	2018/10/26	206,082	2017/06/27
Hang Seng China Enterprises Index Options	389,483	2021/01/11	3,749,790	2018/11/28
RMB Currency Futures - USD/CNH Futures	372,095	2025/08/12	46,711	2017/01/04
Mini Hang Seng Index Futures	340,150	2024/10/09	35,820	2024/01/23
Hang Seng TECH Index Futures Options	208,378	2026/02/04	575,029	2026/02/04
Hang Seng Index Options	140,628	2021/01/11	594,941	2017/11/28
Hang Seng China Enterprises Index Futures Options	137,469	2024/10/09	1,230,141	2024/11/14

Updated 31 Jul 2026