HKEX Monthly Market Highlights

Highlights

- Securities Market

Market capitalisation was $47.1 trillion at the end of May 2026, an increase of 15 per cent from $40.9 trillion for the same period last year.
The average daily turnover in May 2026 was $292.9 billion, an increase of 16 per cent when compared with $253.5 billion in April 2026, and an increase of 39 per cent from $210.3 billion for the same period last year.
The average daily turnover for the first five months of 2026 was $275.3 billion, an increase of 14 per cent when compared with $242.3 billion for the same period last year.
The average daily turnover of CBBCs for the first five months of 2026 was $12.8 billion, an increase of 29 per cent when compared with $9.9 billion for the same period last year.
The average daily turnover of ETFs for the first five months of 2026 was $38.9 billion, an increase of 10 per cent when compared with $35.5 billion for the same period last year.
The average daily turnover of L&I Products for the first five months of 2026 was $6.3 billion, an increase of 40 per cent when compared with $4.5 billion for the same period last year.
There were 62* newly listed companies for the first five months of 2026, an increase of 114 per cent when compared with 29** for the same period last year.
Funds raised through IPOs# for the first five months of 2026 was $166.8 billion, an increase of 111 per cent when compared with $79.2 billion for the same period last year.
Total funds raised for the first five months of 2026 was $268.6 billion, an increase of 13 per cent when compared with $238.3 billion for the same period last year.

- Derivatives Market

The average daily volume of futures and options for the first five months of 2026 was 1,784,506 contracts, an increase of 1 per cent when compared with the 1,765,657 contracts for the same period last year.
The average daily volume of equity index options for the first five months of 2026 was 144,985 contracts, an increase of 20 per cent when compared with the 121,254 contracts for the same period last year.
The average daily volume of Stock Options for the first five months of 2026 was 928,832 contracts, an increase of 3 per cent when compared with the 897,710 contracts for the same period last year.
On 26 May 2026, the volume of Hang Seng TECH Index Futures reached a record high of 523,692 contracts.

* Includes 1 listing 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

	May 2026	May 2025	End 2025
No. of listed companies	2,726	2,633	2,686
Total market capitalisation ($Bil.)	47,078.6	40,932.8	47,392.5
No. of newly listed companies *	13	10	119
No. of listed securities	17,501	15,144	16,969
No. of SPAC shares	-	2	0
No. of equity warrants (excluding SPAC warrants)	6	4	5
No. of SPAC warrants	-	2	0
No. of derivatives warrants	7,541	5,532	7,012
No. of inline warrants	-	-	-
No. of CBBCs	5,637	5,317	5,673
No. of unit trusts	257	226	240
No. of debt securities	1,332	1,427	1,351

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

Number of Newly Listed Securities (Main Board and GEM)

	May 2026	May 2025	2025
Derivatives warrants	909	579	10,266
CBBCs	2,141	2,138	31,444
Unit trusts	5	5	48
Debt securities	26	23	329

Securities Market Turnover (Main Board and GEM)

	May 2026	Apr 2026	% Change
Monthly turnover ($Mil.) *	5,565,166	4,816,587	15.5%
Average daily turnover by value ($Mil.) *	292,903	253,505	15.5%
No. of trading days	19	19	-

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

Stock Connect Summary

	May 2026	Apr 2026	% Change
Total Northbound average daily turnover by value (RMB Mil) (For ETF and Stocks)	395,266	299,185	32.1%
Total Southbound average daily turnover by value ($ Mil) (For ETF and Stocks)	133,665	107,891	23.9%
No. of Northbound trading days	17	19	-
No. of Southbound trading days	17	19	-

Turnover by Type of Securities (Main Board and GEM)

	May 2026 ($Mil)	Apr 2026 ($Mil)	% Change
Equities	4,267,277.22 (76.7%)	3,721,001.40 (77.3%)	14.7%
Derivative warrants	107,117.59 (1.9%)	102,101.43 (2.1%)	4.9%
CBBCs	220,612.01 (4.0%)	202,053.55 (4.2%)	9.2%
Unit Trusts (include ETFs)	962,946.71 (17.3%)	782,536.62 (16.2%)	23.1%

May 2026

($Mil)

Apr 2026

($Mil)

% Change

Equities

4,267,277.22

(76.7%)

3,721,001.40

(77.3%)

14.7%

Derivative warrants

107,117.59

(1.9%)

102,101.43

(2.1%)

4.9%

CBBCs

220,612.01

(4.0%)

202,053.55

(4.2%)

9.2%

Unit Trusts

(include ETFs)

962,946.71

(17.3%)

782,536.62

(16.2%)

23.1%

( ) % 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)

	May 2026 ($Mil)	Apr 2026 ($Mil)	% Change
Equities	224,593.54	195,842.18	14.7%
Derivative warrants	5,637.77	5,373.76	4.9%
CBBCs	11,611.16	10,634.40	9.2%
Unit trusts (include ETFs)	50,681.41	41,186.14	23.1%
Others	379.59	468.12	-18.9%
Total	292,903.46	253,504.59	15.5%

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

Mainland Enterprises (Main Board and GEM)

Month-end figures

	May 2026	May 2025	End 2025
No. of H shares	486	377	433
No. of Non-H share Mainland enterprises	1,117	1,114	1,119
Market capitalisation (% of market total)	78.2%	80.9%	79.3%
Turnover value (% of equity turnover)	90.9%	89.9%	90.9%

Index Performance

Month-end figures

	May 2026	% Change over 1 Month	% Change over 12 Months
S&P/HKEX LargeCap Index	34811.47	-3.5%	0.0%
S&P/HKEX GEM Index	19.07	2.6%	11.9%
Hang Seng Index	25182.39	-2.3%	8.1%
Hang Seng China Enterprises Index	8425.82	-2.9%	-0.1%
Hang Seng China-Affiliated Corporations Index*	4383.76	-0.1%	10.3%
CES China 120 Index ^	6655.94	-1.7%	3.8%
CES China HK Mainland Index +	6446.92	-2.6%	0.3%

* - 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)*
	May 2026	Apr 2026	% Change
Total Futures	703,142	667,507	5.3%
Hang Seng Index Futures	137,277	122,726	11.9%
Mini Hang Seng Index Futures	93,206	88,878	4.9%
HSI (Gross Total Return Index) Futures	0	0	-
HSI (Net Total Return Index) Futures	0	0	-
Hang Seng China Enterprises Index Futures	162,110	155,752	4.1%
Mini-Hang Seng China Enterprises Index Futures	9,234	8,667	6.5%
HSCEI (Gross Total Return Index) Futures	0	0	-
HSCEI (Net Total Return Index) Futures	0	0	-
HSI Dividend Point Index Futures	5	3	66.7%
HSCEI Dividend Point Index Futures	279	0	-
HSI Volatility Index Futures	0	0	-
Hang Seng TECH Index Futures	207,908	187,775	10.7%
Hang Seng Biotech Index Futures	330	416	-20.7%
MSCI AC Asia ex Japan NTR Index Futures	225	230	-2.2%
MSCI Australia Net Total Return (USD) Index Futures	0	0	-
MSCI China A 50 Connect (USD) Index Futures	13,943	10,066	38.5%
MSCI China (USD) Index Futures	0	0	-
MSCI China Net Total Return (USD) Index Futures	93	193	-51.8%
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	39	32	21.9%
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	27	21	28.6%
MSCI Hong Kong Net Total Return (USD) Index Futures	61	25	144.0%
MSCI India (USD) Index Futures	10	27	-63.0%
MSCI India Net Total Return (USD) Index Futures	19	11	72.7%
MSCI Indonesia (USD) Index Futures	0	0	-
MSCI Indonesia Net Total Return (USD) Index Futures	37	26	42.3%
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	1	5	-80.0%
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	3,965	3,939	0.7%
MSCI Taiwan 25/50 (USD) Index Futures	8	6	33.3%
MSCI Taiwan 25/50 Net Total Return (USD) Index Futures	0	0	-
MSCI Taiwan Net Total Return (USD) Index Futures	81	8	912.5%
MSCI Thailand (USD) Index Futures	0	0	-
MSCI Thailand Net Total Return (USD) Index Futures	8	20	-60.0%
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	8,585	7,437	15.4%
3-Month HIBOR Futures	0	0	-
1-Month HIBOR Futures	0	0	-
RMB Currency Futures - USD/CNH Futures	65,435	80,848	-19.1%
RMB Currency Futures - Mini USD/CNH Futures	256	396	-35.4%
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	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	1,076,446	983,708	9.4%
Hang Seng Index Options	16,475	15,671	5.1%
Mini Hang Seng Index Options	15,758	14,936	5.5%
Weekly Hang Seng Index Options	16,802	15,306	9.8%
Flexible Hang Seng Index Options	0	0	-
Hang Seng Index Futures Options	2,396	3,798	-36.9%
Hang Seng China Enterprises Index Options	24,520	23,740	3.3%
Mini-Hang Seng China Enterprises Index Options	3,945	4,164	-5.3%
Weekly Hang Seng China Enterprises Index Options	2,744	2,458	11.6%
Flexible Hang Seng China Enterprises Index Options	0	0	-
Hang Seng China Enterprises Index Futures Options	22,659	26,798	-15.4%
Hang Seng TECH Index Options	5,809	6,354	-8.6%
Weekly Hang Seng TECH Index Options	1,969	2,791	-29.5%
Hang Seng TECH Index Futures Options	9,761	9,991	-2.3%
MSCI Taiwan (USD) Index Options	0	0	-
Stock Options	953,608	857,700	11.2%
RMB Currency Options - USD/CNH Options	0	1	-100.0%
Total Futures and Options	1,779,588	1,651,215	7.8%

* Total average daily volume is the sum of the respective average volume of the individual products
Note:
- Number of trading days for May 2026 and Apr 2026 are 21 days (with 2 holiday trading days) and 22 days (with 3 holiday trading days) respectively
- For list of holiday trading products, please see link here.

Clearing and Settlement

CCASS Statistics (securities market)	May 2026	Apr 2026	% Change
Average daily number of exchange trades settled by CCASS	4,465,827	4,023,196	11.00%
Average daily number of settlement instructions (“SIs”) settled by CCASS	143,609	139,040	3.29%
Average daily number of investor SIs (“ISIs”) settled by CCASS	133	112	18.75%
Average daily settlement efficiency of CNS stock positions on due day (T+2)	99.89	99.91	N/A
Average daily value of SIs settled by CCASS ($ Mil)	496,590.45	456,565.14	8.77%
Shares deposited in the CCASS depository – % of total issued shares – % of the total market capitalisation	76.28 64.73	76.33 64.91	N/A N/A
DCASS Statistics (derivatives market)	May 2026	Apr 2026	% Change
Month-end Open Interest (contracts)
– Equity Index Futures	701,332	690,577	1.6%
– Stock Futures	38,550	36,165	6.6%
– Interest Rates Futures	15	15	0.0%
– RMB Currency Futures	34,398	43,498	-20.9%
– INR Currency Futures	0	0	-
– Gold Futures	0	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	1,846,781	1,720,973	7.3%
– Stock Options	17,996,403	16,500,012	9.1%
– RMB Currency Options	262	278	-5.8%

Year-to-date Statistics

Securities Market	May 2026 YTD	May 2025 YTD	% Change
No. of newly listed companies #	62	29	113.8%
Average daily turnover by value ($Mil.) ^	275,327	242,330	13.6%
Average share traded per trading day (Mil. Shares)	349,299	292,045	19.6%
Average no. of trades per trading day	4,218,531	3,448,919	22.3%
Fund raised by IPOs ($Mil.)*	166,846	79,192	110.7%
Total funds raised (including IPOs) ($Mil.)**	268,564	238,323	12.7%
Derivatives Market	May 2026 YTD	May 2025 YTD	% Change
*Average daily volume (contracts)*
– Equity Index Futures	622,461	622,753	0.0%
– Stock Futures	8,737	9,889	-11.6%
– Interest Rates Futures	0	4	-100.0%
– RMB Currency Futures	79,489	114,001	-30.3%
– INR Currency Futures	0	41	-100.0%
– Gold Futures	0	0	-
– Silver Futures	0	0	-
– Iron Ore Futures	0	0	-
– London Metal Mini Futures	0	0	-
– Equity Index Options	144,985	121,254	19.6%
– Stock Options	928,832	897,710	3.5%
– RMB Currency Options	2	5	-60.0%
Clearing & Settlement	May 2026 YTD	May 2025 YTD	% Change
Average daily number of exchange trades handled by CCASS	4,262,060	3,448,976	23.57%
Average daily number of settlement instructions (SIs) settled by CCASS	143,729	118,771	21.01%
Average daily number of investor SIs (ISIs) settled by CCASS	138	177	-22.03%

# 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 May 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	21,947,396	2026/03/27
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 May 2026