HKEX Monthly Market Highlights

Highlights

- Securities Market

Market capitalisation was $32.1 trillion at the end of September 2023, an increase of 4 per cent from $30.8 trillion for the same period last year.
The average daily turnover in September and for the first nine months was $90.3 billion and $109.7 billion respectively.
The average daily turnover of ETFs for the first nine months of 2023 was $12.0 billion, an increase of 32 per cent when compared with $9.1 billion for the same period last year.
The average daily turnover of L&I Products for the first nine months of 2023 was $2.3 billion, an increase of 15 per cent when compared with $2.0 billion for the same period last year.

- Derivatives Market

The average daily volume of futures and options for the first nine months of 2023 was 1,357,363 contracts, an increase of 9 per cent when compared with the 1,241,534 contracts for the same period last year.
The average daily volume of equity index futures for the first nine months of 2023 was 559,445 contracts, an increase of 5 per cent when compared with the 531,955 contracts for the same period last year.
The average daily volume of equity index options for the first nine months of 2023 was 142,942 contracts, an increase of 30 per cent when compared with the 110,199 contracts for the same period last year.
The average daily volume of Stock Options for the first nine months of 2023 was 618,452 contracts, an increase of 9 per cent when compared with the 569,732 contracts for the same period last year.
The average daily volume of RMB Currency Futures for the first nine months of 2023 was 29,019 contracts, an increase of 67 per cent when compared with the 17,391 contracts for the same period last year.
On 11 September 2023, the volume of Hang Seng TECH Index Futures Options reached a record high of 16,502 contracts.
On 27 September 2023, the volume of MSCI Philippines (USD) Index Futures reached a record high of 3,624 contracts.

Listed Securities (Main Board and GEM)

Month-end figures

	Sep 2023	Sep 2022	End 2022
No. of listed companies	2,603	2,581	2,597
Total market capitalisation ($Bil.)	32,137.3	30,827.2	35,666.8
No. of newly listed companies *	8	8	90
No. of listed securities	13,455	16,105	15,274
No. of SPAC shares	5	4	5
No. of equity warrants (excluding SPAC warrants)	1	3	2
No. of SPAC warrants	5	4	5
No. of derivatives warrants	5,387	7,279	6,731
No. of inline warrants	3	39	28
No. of CBBCs	3,632	4,223	3,979
No. of unit trusts	187	179	191
No. of debt securities	1,631	1,787	1,735

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

Number of Newly Listed Securities (Main Board and GEM)

	Sep 2023	Sep 2022	2022
Derivatives warrants	549	1,089	11,874
CBBCs	1,438	2,466	35,017
Unit trusts	0	2	29
Debt securities	34	29	368

Securities Market Turnover (Main Board and GEM)

	Sep 2023	Aug 2023	% Change
Monthly turnover ($Mil.) *	1,715,200	2,341,618	-26.8%
Average daily turnover by value ($Mil.) *	90,274	101,809	-11.3%
No. of trading days	19	23	-

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

Stock Connect Summary

	Sep 2023	Aug 2023	% Change
Total Northbound average daily turnover by value (RMB Mil) (For ETF and Stocks)	100,373	108,492	-7.5%
Total Southbound average daily turnover by value ($ Mil) (For ETF and Stocks)	29,129	28,951	0.6%
No. of Northbound trading days	18	23	-
No. of Southbound trading days	18	23	-

Turnover by Type of Securities (Main Board and GEM)

	Sep 2023 ($Mil)	Aug 2023 ($Mil)	% Change
Equities	1,291,079.00 (75.3%)	1,713,538.82 (73.2%)	-24.7%
Derivative warrants	92,755.72 (5.4%)	151,854.22 (6.5%)	-38.9%
CBBCs	90,350.20 (5.3%)	134,522.90 (5.7%)	-32.8%
Inline warrants	0.05 (0.0%)	0.24 (0.0%)	-79.2%
Unit trusts (include ETFs)	235,124.03 (13.7%)	331,351.41 (14.2%)	-29.0%

Sep 2023

($Mil)

Aug 2023

($Mil)

% Change

Equities

1,291,079.00

(75.3%)

1,713,538.82

(73.2%)

-24.7%

Derivative warrants

92,755.72

(5.4%)

151,854.22

(6.5%)

-38.9%

CBBCs

90,350.20

(5.3%)

134,522.90

(5.7%)

-32.8%

Inline warrants

0.05

(0.0%)

0.24

(0.0%)

-79.2%

Unit trusts

(include ETFs)

235,124.03

(13.7%)

331,351.41

(14.2%)

-29.0%

( ) % 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)

	Sep 2023 ($Mil)	Aug 2023 ($Mil)	% Change
Equities	67,951.53	74,501.69	-8.8%
Derivative warrants	4,881.88	6,602.36	-26.1%
CBBCs	4,755.27	5,848.82	-18.7%
Inline warrants	0.00	0.01	-73.1%
Unit trusts (include ETFs)	12,374.95	14,406.58	-14.1%
Others	310.05	450.00	-31.1%
Total	90,273.68	101,809.47	-11.3%

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 Sep 2023 was $21,280 million (1.2% of the securities market total turnover).

Mainland Enterprises (Main Board and GEM)

Month-end figures

	Sep 2023	Sep 2022	End 2022
No. of H shares	325	308	316
No. of Red chips Stocks	176	174	174
No. of Mainland private enterprises	934	905	919
Market capitalisation (% of market total)	77.6%	76.8%	76.9%
Turnover value (% of equity turnover)	85.9%	86.2%	87.3%

Index Performance

Month-end figures

	Sep 2023	% Change over 1 Month	% Change over 12 Months
S&P/HKEX LargeCap Index	25883.81	-4.4%	5.8%
S&P/HKEX GEM Index	24.77	-6.6%	-30.0%
Hang Seng Index	17809.66	-3.1%	3.4%
Hang Seng China Enterprises Index	6148.33	-2.9%	4.0%
Hang Seng China-Affiliated Corporations Index*	3543.59	-1.5%	6.1%
CES China 120 Index ^	5397.91	-2.8%	1.3%
CESChina HK Mainland Index +	4936.91	-3.8%	2.5%

* - 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)*
	Sep 2023	Aug 2023	% Change
Total Futures	555,998	667,520	-16.7%
Hang Seng Index Futures	121,577	148,798	-18.3%
Mini Hang Seng Index Futures	72,624	101,887	-28.7%
HSI (Gross Total Return Index) Futures	0	0	-
HSI (Net Total Return Index) Futures	0	0	-
Hang Seng China Enterprises Index Futures	158,349	191,191	-17.2%
Mini-Hang Seng China Enterprises Index Futures	7,863	10,730	-26.7%
HSCEI (Gross Total Return Index) Futures	0	0	-
HSCEI (Net Total Return Index) Futures	0	0	-
HSI Dividend Point Index Futures	0	7	-100.0%
HSCEI Dividend Point Index Futures	331	537	-38.4%
HSI Volatility Index Futures	0	0	-
Hang Seng TECH Index Futures	108,190	123,325	-12.3%
MSCI AC Asia ex Japan NTR Index Futures	75	27	177.8%
MSCI Australia Net Total Return (USD) Index Futures	0	0	-
MSCI China A 50 Connect (USD) Index Futures	13,596	13,786	-1.4%
MSCI China (USD) Index Futures	0	0	-
MSCI China Net Total Return (USD) Index Futures	4,225	95	4347.4%
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	1	3	-66.7%
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	0	-
MSCI Hong Kong Net Total Return (USD) Index Futures	269	37	627.0%
MSCI India (USD) Index Futures	3,319	2,232	48.7%
MSCI India Net Total Return (USD) Index Futures	200	1	19900.0%
MSCI Indonesia (USD) Index Futures	0	0	-
MSCI Indonesia Net Total Return (USD) Index Futures	117	11	963.6%
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	0	-
MSCI Malaysia (USD) Index Futures	0	0	-
MSCI Malaysia Net Total Return (USD) Index Futures	8	6	33.3%
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	243	0	-
MSCI Philippines Net Total Return (USD) Index Futures	1	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	4,892	6,037	-19.0%
MSCI Taiwan 25/50 (USD) Index Futures	9	10	-10.0%
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan Net Total Return (USD) Index Futures	414	30	1280.0%
MSCI Thailand (USD) Index Futures	0	0	-
MSCI Thailand Net Total Return (USD) Index Futures	80	210	-61.9%
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	5,453	7,252	-24.8%
3-Month HIBOR Futures	0	0	-
1-Month HIBOR Futures	0	0	-
RMB Currency Futures - USD/CNH Futures	50,763	58,390	-13.1%
RMB Currency Futures - Mini USD/CNH Futures	2,527	2,363	6.9%
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	5	-100.0%
INR Currency Futures - INR/USD Futures	872	550	58.5%
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	683,483	728,804	-6.2%
Hang Seng Index Options	18,672	25,356	-26.4%
Mini Hang Seng Index Options	9,418	12,925	-27.1%
Weekly Hang Seng Index Options	10,657	14,411	-26.0%
Flexible Hang Seng Index Options	0	0	-
Hang Seng Index Futures Options	3,049	3,306	-7.8%
Hang Seng China Enterprises Index Options	33,174	41,493	-20.0%
Mini-Hang Seng China Enterprises Index Options	2,163	4,694	-53.9%
Weekly Hang Seng China Enterprises Index Options	1,575	2,009	-21.6%
Flexible Hang Seng China Enterprises Index Options	0	0	-
Hang Seng China Enterprises Index Futures Options	39,950	36,065	10.8%
Hang Seng TECH Index Options	3,488	3,636	-4.1%
Hang Seng TECH Index Futures Options	4,875	1,627	199.6%
MSCI Taiwan (USD) Index Options	0	0	-
Stock Options	556,451	583,267	-4.6%
RMB Currency Options - USD/CNH Options	11	15	-26.7%
Total Futures and Options	1,239,481	1,396,324	-11.2%

* Total average daily volume is the sum of the respective average volume of the individual products
Note:
- Number of trading days for Sep 2023 and Aug 2023 are 21 days (without holiday trading day) and 23 days (without holiday trading day) respectively
- For list of holiday trading products, please see link here.

Clearing and Settlement

CCASS Statistics (securities market)	Sep 2023	Aug 2023	% Change
Average daily number of exchange trades settled by CCASS	1,671,286	1,887,788	-11.47%
Average daily number of settlement instructions (“SIs”) settled by CCASS	97,490	96,031	1.52%
Average daily number of investor SIs (“ISIs”) settled by CCASS	121	145	-16.55%
Average daily settlement efficiency of CNS stock positions on due day (T+2)	99.90	99.93	N/A
Average daily value of SIs settled by CCASS ($ Mil)	242,324.53	215,527.90	12.43%
Shares deposited in the CCASS depository – % of total issued shares – % of the total market capitalisation	75.02 62.99	75.12 63.17	N/A N/A
DCASS Statistics (derivatives market)	Sep 2023	Aug 2023	% Change
Month-end Open Interest (contracts)
– Equity Index Futures	1,174,354	1,093,874	7.4%
– Stock Futures	25,474	30,038	-15.2%
– Interest Rates Futures	35	65	-46.2%
– RMB Currency Futures	27,594	30,695	-10.1%
– INR Currency Futures	824	101	715.8%
– Gold Futures	0	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	2,481,156	2,746,663	-9.7%
– Stock Options	9,223,573	10,643,140	-13.3%
– RMB Currency Options	628	762	-17.6%

Year-to-date Statistics

Securities Market	Sep 2023 YTD	Sep 2022 YTD	% Change
No. of newly listed companies #	47	56	-16.1%
Average daily turnover by value ($Mil.) ^	109,711	124,120	-11.6%
Average share traded per trading day (Mil. Shares)	201,081	242,147	-17.0%
Average no. of trades per trading day	1,952,124	2,098,596	-7.0%
Fund raised by IPOs ($Mil.)*	24,605	73,718	-66.6%
Total equity funds raised (including IPOs) ($Mil.) (Main + GEM)**	99,164	193,073	-48.6%
Derivatives Market	Sep 2023 YTD	Sep 2022 YTD	% Change
*Average daily volume (contracts)*
– Equity Index Futures	559,445	531,955	5.2%
– Stock Futures	6,804	8,159	-16.6%
– Interest Rates Futures	3	1	200.0%
– RMB Currency Futures	29,019	17,391	66.9%
– INR Currency Futures	680	995	-31.7%
– Gold Futures	2	1,607	-99.9%
– Silver Futures	0	10	-100.0%
– Iron Ore Futures	0	30	-100.0%
– London Metal Mini Futures	0	1,426	-100.0%
– Equity Index Options	142,942	110,199	29.7%
– Stock Options	618,452	569,732	8.6%
– RMB Currency Options	16	29	-44.8%
Clearing & Settlement	Sep 2023 YTD	Sep 2022 YTD	% Change
Average daily number of exchange trades handled by CCASS	1,953,170	2,097,487	-6.88%
Average daily number of settlement instructions (SIs) settled by CCASS	101,331	112,554	-9.97%
Average daily number of investor SIs (ISIs) settled by CCASS	145	212	-31.60%

# 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 Sep 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	294,518	2023/09/26
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
Hang Seng China Enterprises Index Futures Options	103,353	2023/07/31	1,207,462	2023/06/15
RMB Currency Futures - USD/CNH Futures	83,522	2023/08/04	46,711	2017/01/04
Mini-Hang Seng China Enterprises Index Futures	76,471	2018/02/06	16,436	2014/12/11

Updated 30 Sep 2023