HKEX Monthly Market Highlights

Highlights

- Securities Market

Market capitalisation was $35.8 trillion at the end of February 2023.
The average daily turnover for the first two months of 2023 was $128.6 billion, a decrease of 1 per cent when compared with $129.4 billion for the same period last year.
The average daily turnover of ETFs for the first two months of 2023 was $13.0 billion, an increase of 71 per cent when compared with $7.6 billion for the same period last year.
The average daily turnover of L&I Products for the first two months of 2023 was $2.4 billion, an increase of 85 per cent when compared with $1.3 billion for the same period last year.
There were 10 newly listed companies for the first two months of 2023, with 7 for the same period last year.

- Derivatives Market

The average daily turnover of futures and options for the first two months of 2023 was 1,361,266 contracts, an increase of 17 per cent when compared with the 1,165,135 contracts for the same period last year.
The average daily turnover of equity index futures for the first two months of 2023 was 558,119 contacts, an increase of 19 per cent when compared with the 469,785 contacts for the same period last year.
The average daily turnover of equity index options for the first two months of 2023 was 148,797 contacts, an increase of 42 per cent when compared with the 104,752 contacts for the same period last year.
The average daily turnover of Stock Options for the first two months of 2023 was 632,238 contracts, an increase of 12 per cent when compared with the 565,231 contracts for the same period last year.
The average daily turnover of RMB Currency Futures for the first two months of 2023 was 14,052 contracts, an increase of 26 per cent when compared with the 11,187 contracts for the same period last year.
On 24 February 2023, the turnover of Hang Seng China Enterprises Index Futures reached a record high of 583,997 contracts.
On 10 February 2023, the turnover of Hang Seng TECH Index Options reached a record high of 8,119 contracts.

Listed Securities (Main Board and GEM)

Month-end figures

	Feb 2023	Feb 2022	End 2022
No. of listed companies	2,596	2,570	2,597
Total market capitalisation ($Bil.)	35,807.6	40,889.0	35,666.8
No. of newly listed companies	0	3	90
No. of listed securities	15,834	18,048	15,274
No. of SPAC shares	5	-	5
No. of equity warrants (excluding SPAC warrants)	2	3	2
No. of SPAC warrants	5	-	5
No. of derivatives warrants	6,937	9,005	6,731
No. of inline warrants	7	68	28
No. of CBBCs	4,387	4,449	3,979
No. of unit trusts	189	169	191
No. of debt securities	1,705	1,771	1,735

Number of Newly Listed Securities (Main Board and GEM)

	Feb 2023	Feb 2022	2022
Derivatives warrants	818	937	11,874
CBBCs	2,172	2,871	35,017
Unit trusts	2	2	29
Debt securities	10	20	368

Securities Market Turnover (Main Board and GEM)

	Feb 2023	Jan 2023	% Change
Monthly turnover ($Mil.) *	2,367,628	2,519,288	-6.0%
Average daily turnover by value ($Mil.) *	118,381	139,960	-15.4%
No. of trading days	20	18	-

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

Turnover by Type of Securities (Main Board and GEM)

	Feb 2023 ($Mil)	Jan 2023 ($Mil)	% Change
Equities	1,790,247.62 (75.6%)	1,997,267.33 (79.3%)	-10.4%
Derivative warrants	121,825.36 (5.1%)	99,249.06 (3.9%)	22.7%
CBBCs	137,293.39 (5.8%)	119,160.49 (4.7%)	15.2%
Inline warrants	2.14 (0.0%)	1.16 (0.0%)	84.5%
Unit trusts (include ETFs)	306,679.45 (13.0%)	296,412.61 (11.8%)	3.5%

Feb 2023

($Mil)

Jan 2023

($Mil)

% Change

Equities

1,790,247.62

(75.6%)

1,997,267.33

(79.3%)

-10.4%

Derivative warrants

121,825.36

(5.1%)

99,249.06

(3.9%)

22.7%

CBBCs

137,293.39

(5.8%)

119,160.49

(4.7%)

15.2%

Inline warrants

2.14

(0.0%)

1.16

(0.0%)

84.5%

Unit trusts

(include ETFs)

306,679.45

(13.0%)

296,412.61

(11.8%)

3.5%

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

ATS Transactions

The total turnover of automated trading services’ (ATS) transactions for Feb 2023 was $27,731 million (1.2% of the securities market total turnover).

Mainland Enterprises (Main Board and GEM)

Month-end figures

	Feb 2023	Feb 2022	End 2022
No. of H shares	319	299	316
No. of Red chips Stocks	176	174	174
No. of Mainland private enterprises	920	896	919
Market capitalisation (% of market total)	76.5%	78.0%	76.9%
Turnover value (% of equity turnover)	87.4%	85.9%	87.3%

Index Performance

Month-end figures

	Feb 2023	% Change over 1 Month	% Change over 12 Months
S&P/HKEX LargeCap Index	28456.26	-10.7%	-12.9%
S&P/HKEX GEM Index	39.82	-2.7%	-17.0%
Hang Seng Index	19785.94	-9.4%	-12.9%
Hang Seng China Enterprises Index	6581.47	-11.4%	-18.0%
Hang Seng China-Affiliated Corporations Index*	3857.04	-3.1%	-8.4%
CES China 120 Index ^	5697.70	-6.7%	-11.2%
CESChina HK Mainland Index +	5291.69	-12.1%	-20.0%

* - 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)*
	Feb 2023	Jan 2023	% Change
Total Futures	572,820	588,537	-2.7%
Hang Seng Index Futures	140,776	142,878	-1.5%
Mini Hang Seng Index Futures	98,034	100,371	-2.3%
HSI (Gross Total Return Index) Futures	0	0	-
HSI (Net Total Return Index) Futures	0	0	-
Hang Seng China Enterprises Index Futures	191,297	204,205	-6.3%
Mini-Hang Seng China Enterprises Index Futures	10,871	12,100	-10.2%
HSCEI (Gross Total Return Index) Futures	0	0	-
HSCEI (Net Total Return Index) Futures	0	0	-
HSI Dividend Point Index Futures	303	169	79.3%
HSCEI Dividend Point Index Futures	805	2,054	-60.8%
HSI Volatility Index Futures	0	0	-
Hang Seng TECH Index Futures	92,703	89,337	3.8%
MSCI AC Asia ex Japan NTR Index Futures	15	7	114.3%
MSCI Australia Net Total Return (USD) Index Futures	0	0	-
MSCI China A 50 Connect (USD) Index Futures	10,145	9,587	5.8%
MSCI China (USD) Index Futures	1	0	-
MSCI China Net Total Return (USD) Index Futures	735	146	403.4%
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	2	0	-
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	2	2	0.0%
MSCI Hong Kong Net Total Return (USD) Index Futures	19	50	-62.0%
MSCI India (USD) Index Futures	0	1	-100.0%
MSCI India Net Total Return (USD) Index Futures	58	0	-
MSCI Indonesia (USD) Index Futures	0	0	-
MSCI Indonesia Net Total Return (USD) Index Futures	12	3	300.0%
MSCI Japan (JPY) Index Futures	0	0	-
MSCI Japan Net Total Return (JPY) Index Futures	0	0	-
MSCI Japan Net Total Return (USD) Index Futures	0	1	-100.0%
MSCI Malaysia (USD) Index Futures	0	0	-
MSCI Malaysia Net Total Return (USD) Index Futures	0	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	1	2	-50.0%
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	5,295	5,092	4.0%
MSCI Taiwan 25/50 (USD) Index Futures	16	13	23.1%
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan Net Total Return (USD) Index Futures	0	1	-100.0%
MSCI Thailand (USD) Index Futures	0	0	-
MSCI Thailand Net Total Return (USD) Index Futures	11	17	-35.3%
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	-
MICEX Index Futures	0	0	-
Stock Futures	6,199	7,959	-22.1%
3-Month HIBOR Futures	1	1	0.0%
1-Month HIBOR Futures	11	0	-
RMB Currency Futures - USD/CNH Futures	11,896	10,766	10.5%
RMB Currency Futures - Mini USD/CNH Futures	2,669	2,707	-1.4%
RMB Currency Futures - EUR/CNH Futures	2	4	-50.0%
RMB Currency Futures - JPY/CNH Futures	0	0	-
RMB Currency Futures - AUD/CNH Futures	0	0	-
RMB Currency Futures - CNH/USD Futures	1	1	0.0%
INR Currency Futures - INR/USD Futures	938	1,062	-11.7%
INR Currency Futures - INR/CNH Futures	0	0	-
USD Gold Futures	2	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	1	-100.0%
USD London Lead Mini Futures	0	0	-
USD London Nickel Mini Futures	0	0	-
USD London Tin Mini Futures	0	0	-
Total Options	758,592	806,021	-5.9%
Hang Seng Index Options	24,056	23,392	2.8%
Mini Hang Seng Index Options	13,704	13,649	0.4%
Weekly Hang Seng Index Options	12,266	13,450	-8.8%
Flexible Hang Seng Index Options	0	0	-
Hang Seng Index Futures Options	4,238	4,368	-3.0%
Hang Seng China Enterprises Index Options	48,216	47,645	1.2%
Mini-Hang Seng China Enterprises Index Options	3,093	3,957	-21.8%
Weekly Hang Seng China Enterprises Index Options	2,641	3,015	-12.4%
Flexible Hang Seng China Enterprises Index Options	0	0	-
Hang Seng China Enterprises Index Futures Options	38,223	36,594	4.5%
Hang Seng TECH Index Options	2,053	1,671	22.9%
Hang Seng TECH Index Futures Options	442	907	-51.3%
MSCI Taiwan (USD) Index Options	0	0	-
Stock Options	609,632	657,356	-7.3%
RMB Currency Options - USD/CNH Options	28	17	64.7%
Total Futures and Options	1,331,412	1,394,558	-4.5%

* Total average daily volume is the sum of the respective average volume of the individual products

Clearing and Settlement

CCASS Statistics (securities market)	Feb 2023	Jan 2023	% Change
Average daily number of exchange trades settled by CCASS	2,133,388	2,320,083	-8.05%
Average daily number of settlement instructions (“SIs”) settled by CCASS	105,644	111,048	-4.87%
Average daily number of investor SIs (“ISIs”) settled by CCASS	161	169	-4.73%
Average daily settlement efficiency of CNS stock positions on due day (T+2)	99.91	99.91	N/A
Shares deposited in the CCASS depository – % of total issued shares – % of the total market capitalisation	75.13 63.16	75.08 63.91	N/A N/A
DCASS Statistics (derivatives market)	Feb 2023	Jan 2023	% Change
Month-end Open Interest (contracts)
– Equity Index Futures	1,021,937	1,070,651	-4.5%
– Stock Futures	30,030	32,384	-7.3%
– Interest Rates Futures	240	46	421.7%
– RMB Currency Futures	24,879	22,118	12.5%
– INR Currency Futures	196	375	-47.7%
– Gold Futures	225	225	0.0%
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	2,788,958	2,415,869	15.4%
– Stock Options	10,060,090	8,681,270	15.9%
– RMB Currency Options	1,158	792	46.2%

Year-to-date Statistics

Securities Market	Feb 2023 YTD	Feb 2022 YTD	% Change
No. of newly listed companies	10	7	42.9%
Average daily turnover by value ($Mil.) ^	128,603	129,387	-0.6%
Average share traded per trading day (Mil. Shares)	187,533	283,615	-33.9%
Average no. of trades per trading day	2,222,707	2,122,223	4.7%
Fund raised by IPOs ($Mil.)*	3,936	9,254	-57.5%
Total funds raised (including IPOs) ($Mil.)**	22,883	70,891	-67.7%
Derivatives Market	Feb 2023 YTD	Feb 2022 YTD	% Change
*Average daily volume (contracts)*
– Equity Index Futures	558,119	469,785	18.8%
– Stock Futures	7,032	9,864	-28.7%
– Interest Rates Futures	7	0	-
– RMB Currency Futures	14,052	11,187	25.6%
– INR Currency Futures	997	1,543	-35.4%
– Gold Futures	1	1,587	-99.9%
– Silver Futures	0	7	-100.0%
– Iron Ore Futures	0	36	-100.0%
– London Metal Mini Futures	0	1,133	-100.0%
– Equity Index Options	148,797	104,752	42.0%
– Stock Options	632,238	565,231	11.9%
– RMB Currency Options	23	10	130.0%
Clearing & Settlement	Feb 2023 YTD	Feb 2022 YTD	% Change
Average daily number of exchange trades handled by CCASS	2,221,822	2,121,352	4.74%
Average daily number of settlement instructions (SIs) settled by CCASS	108,204	116,262	-6.93%
Average daily number of investor SIs (ISIs) settled by CCASS	164	214	-23.19%

^ 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 28 Feb 2023

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	2021/07/27	361,238,455,648
2	2021/02/24	354,330,826,815
3	2021/02/26	321,313,602,377
4	2022/03/16	309,913,857,581
5	2021/02/22	303,594,716,032
6	2021/01/19	302,507,509,559
7	2021/01/20	301,244,822,148
8	2022/03/17	301,106,198,997
9	2015/04/09	293,910,756,648
10	2021/01/25	288,079,469,553

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	1,545,227	2020/07/06	15,625,280	2021/03/29
Hang Seng China Enterprises Index Futures	583,997	2023/02/24	758,877	2022/12/28
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
Hang Seng TECH Index Futures	306,517	2022/10/25	187,004	2022/12/29
Mini Hang Seng Index Futures	298,812	2020/03/19	31,150	2022/09/29
Hang Seng Index Options	140,628	2021/01/11	594,941	2017/11/28
Mini-Hang Seng China Enterprises Index Futures	76,471	2018/02/06	16,436	2014/12/11
Hang Seng China Enterprises Index Futures Options	70,542	2022/12/05	1,079,146	2022/12/15
MSCI China A 50 Connect (USD) Index Futures	65,682	2022/02/16	42,718	2022/01/18

Updated 28 Feb 2023