HKEX Monthly Market Highlights

Highlights

- Securities Market

Market capitalisation was $31.1 trillion at the end of November 2023, an increase of 1 per cent from $30.8 trillion at the end of October 2023.
The average daily turnover in November and for the first eleven months of 2023 was $95.6 billion and $105.6 billion respectively.
The average daily turnover of ETFs for the first eleven months of 2023 was $11.7 billion, an increase of 21 per cent when compared with $9.7 billion for the same period last year.
The average daily turnover of L&I Products for the first eleven months of 2023 was $2.3 billion, an increase of 10 per cent when compared with $2.1 billion for the same period last year.

- Derivatives Market

The average daily volume of futures and options for the first eleven months of 2023 was 1,352,048 contracts, an increase of 4 per cent when compared with the 1,296,443 contracts for the same period last year.
The average daily volume of equity index options for the first eleven months of 2023 was 138,384 contracts, an increase of 13 per cent when compared with the 122,538 contracts for the same period last year.
The average daily volume of Stock Options for the first eleven months of 2023 was 612,911 contracts, an increase of 5 per cent when compared with the 586,501 contracts for the same period last year.
The average daily volume of RMB Currency Futures for the first eleven months of 2023 was 37,404 contracts, an increase of 103 per cent when compared with the 18,465 contracts for the same period last year.
On 16 November 2023, the volume of Weekly Hang Seng Index Options reached a record high of 31,476 contracts.
On 15 November 2023, the volume of RMB Currency Futures - USD/CNH Futures reached a record high of 112,385 contracts.
On 27 November 2023, the volume of INR Currency Futures - INR/USD Futures reached a record high of 5,054 contracts.

Listed Securities (Main Board and GEM)

Month-end figures

	Nov 2023	Nov 2022	End 2022
No. of listed companies	2,603	2,582	2,597
Total market capitalisation ($Bil.)	31,120.8	33,317.8	35,666.8
No. of newly listed companies *	7	7	90
No. of listed securities	13,327	16,140	15,274
No. of SPAC shares	5	4	5
No. of equity warrants (excluding SPAC warrants)	2	2	2
No. of SPAC warrants	5	4	5
No. of derivatives warrants	5,323	7,254	6,731
No. of inline warrants	0	32	28
No. of CBBCs	3,586	4,308	3,979
No. of unit trusts	191	187	191
No. of debt securities	1,612	1,764	1,735

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

Number of Newly Listed Securities (Main Board and GEM)

	Nov 2023	Nov 2022	2022
Derivatives warrants	487	803	11,874
CBBCs	1,969	3,149	35,017
Unit trusts	4	5	29
Debt securities	19	27	368

Securities Market Turnover (Main Board and GEM)

	Nov 2023	Oct 2023	% Change
Monthly turnover ($Mil.) *	2,102,126	1,575,770	33.4%
Average daily turnover by value ($Mil.) *	95,551	78,789	21.3%
No. of trading days	22	20	-

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

Stock Connect Summary

	Nov 2023	Oct 2023	% Change
Total Northbound average daily turnover by value (RMB Mil) (For ETF and Stocks)	107,808	110,472	-2.4%
Total Southbound average daily turnover by value ($ Mil) (For ETF and Stocks)	29,194	25,195	15.9%
No. of Northbound trading days	22	16	-
No. of Southbound trading days	22	16	-

Turnover by Type of Securities (Main Board and GEM)

	Nov 2023 ($Mil)	Oct 2023 ($Mil)	% Change
Equities	1,512,950.82 (72.0%)	1,167,312.52 (74.1%)	29.6%
Derivative warrants	119,986.26 (5.7%)	97,339.55 (6.2%)	23.3%
CBBCs	112,538.11 (5.4%)	95,964.37 (6.1%)	17.3%
Inline warrants	0.00 (0.0%)	0.03 (0.0%)	-100.0%
Unit trusts (include ETFs)	345,154.05 (16.4%)	209,430.86 (13.3%)	64.8%

Nov 2023

($Mil)

Oct 2023

($Mil)

% Change

Equities

1,512,950.82

(72.0%)

1,167,312.52

(74.1%)

29.6%

Derivative warrants

119,986.26

(5.7%)

97,339.55

(6.2%)

23.3%

CBBCs

112,538.11

(5.4%)

95,964.37

(6.1%)

17.3%

Inline warrants

0.00

(0.0%)

0.03

(0.0%)

-100.0%

Unit trusts

(include ETFs)

345,154.05

(16.4%)

209,430.86

(13.3%)

64.8%

( ) % 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)

	Nov 2023 ($Mil)	Oct 2023 ($Mil)	% Change
Equities	68,770.49	58,365.63	17.8%
Derivative warrants	5,453.92	4,866.98	12.1%
CBBCs	5,115.37	4,798.22	6.6%
Inline warrants	0.00	0.00	-
Unit trusts (include ETFs)	15,688.82	10,471.54	49.8%
Others	522.60	286.15	82.6%
Total	95,551.20	78,788.52	21.3%

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 Nov 2023 was $25,662 million (1.2% of the securities market total turnover).

Mainland Enterprises (Main Board and GEM)

Month-end figures

	Nov 2023	Nov 2022	End 2022
No. of H shares	330	311	316
No. of Red chips Stocks	176	174	174
No. of Mainland private enterprises	933	910	919
Market capitalisation (% of market total)	77.8%	77.1%	76.9%
Turnover value (% of equity turnover)	87.7%	88.7%	87.3%

Index Performance

Month-end figures

	Nov 2023	% Change over 1 Month	% Change over 12 Months
S&P/HKEX LargeCap Index	24855.68	0.1%	-5.2%
S&P/HKEX GEM Index	20.80	-3.3%	-42.2%
Hang Seng Index	17042.88	-0.4%	-8.4%
Hang Seng China Enterprises Index	5857.54	-0.1%	-8.1%
Hang Seng China-Affiliated Corporations Index*	3363.27	0.3%	-8.0%
CES China 120 Index ^	5050.72	-2.4%	-7.9%
CESChina HK Mainland Index +	4652.81	-0.8%	-9.0%

* - 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)*
	Nov 2023	Oct 2023	% Change
Total Futures	631,662	611,155	3.4%
Hang Seng Index Futures	131,339	130,502	0.6%
Mini Hang Seng Index Futures	88,289	82,948	6.4%
HSI (Gross Total Return Index) Futures	0	0	-
HSI (Net Total Return Index) Futures	0	0	-
Hang Seng China Enterprises Index Futures	177,521	180,900	-1.9%
Mini-Hang Seng China Enterprises Index Futures	9,013	8,693	3.7%
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	609	510	19.4%
HSI Volatility Index Futures	0	0	-
Hang Seng TECH Index Futures	114,492	106,828	7.2%
MSCI AC Asia ex Japan NTR Index Futures	5	8	-37.5%
MSCI Australia Net Total Return (USD) Index Futures	0	0	-
MSCI China A 50 Connect (USD) Index Futures	14,308	14,154	1.1%
MSCI China (USD) Index Futures	1	1	0.0%
MSCI China Net Total Return (USD) Index Futures	51	66	-22.7%
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	7	5	40.0%
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	0	5	-100.0%
MSCI Hong Kong Net Total Return (USD) Index Futures	17	39	-56.4%
MSCI India (USD) Index Futures	4,283	3,417	25.3%
MSCI India Net Total Return (USD) Index Futures	189	82	130.5%
MSCI Indonesia (USD) Index Futures	0	0	-
MSCI Indonesia Net Total Return (USD) Index Futures	13	4	225.0%
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	2	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	49	4	1125.0%
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	5,495	5,063	8.5%
MSCI Taiwan 25/50 (USD) Index Futures	16	9	77.8%
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan Net Total Return (USD) Index Futures	135	4	3275.0%
MSCI Thailand (USD) Index Futures	0	0	-
MSCI Thailand Net Total Return (USD) Index Futures	32	33	-3.0%
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	5,820	5,629	3.4%
3-Month HIBOR Futures	0	0	-
1-Month HIBOR Futures	1	0	-
RMB Currency Futures - USD/CNH Futures	73,993	67,769	9.2%
RMB Currency Futures - Mini USD/CNH Futures	3,992	2,565	55.6%
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	1,990	1,917	3.8%
INR Currency Futures - INR/CNH Futures	0	0	-
USD Gold Futures	0	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	723,175	689,658	4.9%
Hang Seng Index Options	20,723	18,696	10.8%
Mini Hang Seng Index Options	13,378	10,277	30.2%
Weekly Hang Seng Index Options	13,973	11,162	25.2%
Flexible Hang Seng Index Options	0	0	-
Hang Seng Index Futures Options	3,376	2,760	22.3%
Hang Seng China Enterprises Index Options	29,569	29,371	0.7%
Mini-Hang Seng China Enterprises Index Options	2,058	2,426	-15.2%
Weekly Hang Seng China Enterprises Index Options	3,370	2,600	29.6%
Flexible Hang Seng China Enterprises Index Options	0	0	-
Hang Seng China Enterprises Index Futures Options	33,408	27,881	19.8%
Hang Seng TECH Index Options	2,601	3,136	-17.1%
Hang Seng TECH Index Futures Options	3,348	1,751	91.2%
MSCI Taiwan (USD) Index Options	0	0	-
Stock Options	597,367	579,592	3.1%
RMB Currency Options - USD/CNH Options	4	6	-33.3%
Total Futures and Options	1,354,837	1,300,813	4.2%

* Total average daily volume is the sum of the respective average volume of the individual products
Note:
- Number of trading days for Nov 2023 and Oct 2023 are 22 days (without holiday trading day) and 22 days (with 2 holiday trading days) respectively
- For list of holiday trading products, please see link here.

Clearing and Settlement

CCASS Statistics (securities market)	Nov 2023	Oct 2023	% Change
Average daily number of exchange trades settled by CCASS	1,774,804	1,550,967	14.43%
Average daily number of settlement instructions (“SIs”) settled by CCASS	86,975	86,707	0.31%
Average daily number of investor SIs (“ISIs”) settled by CCASS	101	107	-5.31%
Average daily settlement efficiency of CNS stock positions on due day (T+2)	99.94	99.92	N/A
Average daily value of SIs settled by CCASS ($ Mil)	180,357.50	177,354.58	1.69%
Shares deposited in the CCASS depository – % of total issued shares – % of the total market capitalisation	74.93 62.92	74.88 62.94	N/A N/A
DCASS Statistics (derivatives market)	Nov 2023	Oct 2023	% Change
Month-end Open Interest (contracts)
– Equity Index Futures	1,192,457	1,211,556	-1.6%
– Stock Futures	30,627	29,896	2.4%
– Interest Rates Futures	50	35	42.9%
– RMB Currency Futures	39,045	33,196	17.6%
– INR Currency Futures	1,152	1,364	-15.5%
– Gold Futures	0	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	2,669,954	2,554,208	4.5%
– Stock Options	10,850,572	9,855,827	10.1%
– RMB Currency Options	646	617	4.7%

Year-to-date Statistics

Securities Market	Nov 2023 YTD	Nov 2022 YTD	% Change
No. of newly listed companies #	59	69	-14.5%
Average daily turnover by value ($Mil.) ^	105,560	123,972	-14.9%
Average share traded per trading day (Mil. Shares)	198,027	237,707	-16.7%
Average no. of trades per trading day	1,898,883	2,126,180	-10.7%
Fund raised by IPOs ($Mil.)*	37,189	87,818	-57.7%
Total equity funds raised (including IPOs) ($Mil.) (Main + GEM)**	128,274	220,249	-41.8%
Derivatives Market	Nov 2023 YTD	Nov 2022 YTD	% Change
*Average daily volume (contracts)*
– Equity Index Futures	555,814	556,958	-0.2%
– Stock Futures	6,602	7,875	-16.2%
– Interest Rates Futures	2	1	100.0%
– RMB Currency Futures	37,404	18,465	102.6%
– INR Currency Futures	916	1,006	-8.9%
– Gold Futures	1	1,722	-99.9%
– Silver Futures	0	10	-100.0%
– Iron Ore Futures	0	25	-100.0%
– London Metal Mini Futures	0	1,311	-100.0%
– Equity Index Options	138,384	122,538	12.9%
– Stock Options	612,911	586,501	4.5%
– RMB Currency Options	14	31	-54.8%
Clearing & Settlement	Nov 2023 YTD	Nov 2022 YTD	% Change
Average daily number of exchange trades handled by CCASS	1,899,909	2,125,097	-10.60%
Average daily number of settlement instructions (SIs) settled by CCASS	99,883	111,489	-10.41%
Average daily number of investor SIs (ISIs) settled by CCASS	141	202	-29.96%

# 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 30 Nov 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	651,086	2023/04/25	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	348,993	2023/04/24	297,225	2023/10/26
Mini Hang Seng Index Futures	298,812	2020/03/19	32,394	2023/08/29
Hang Seng Index Options	140,628	2021/01/11	594,941	2017/11/28
RMB Currency Futures - USD/CNH Futures	112,385	2023/11/15	46,711	2017/01/04
Hang Seng China Enterprises Index Futures Options	103,353	2023/07/31	1,207,462	2023/06/15
Mini-Hang Seng China Enterprises Index Futures	76,471	2018/02/06	16,436	2014/12/11

Updated 30 Nov 2023