Market Turnover
-






-
-
|
|
|
|
|
|
-
-
-
Loading

HKEX Monthly Market Highlights

Highlights

- Securities Market

  • Market capitalisation was $42.7 trillion at the end of June 2025, an increase of 33 per cent from $32.1 trillion for the same period last year.
  • The average daily turnover in June 2025 was $230.2 billion, an increase of 107 per cent from $111.2 billion for the same period last year.
  • The average daily turnover for the first six months of 2025 was $240.2 billion, an increase of 118 per cent when compared with $110.4 billion for the same period last year.
  • The average daily turnover of derivative warrants for the first six months of 2025 was $7.8 billion, an increase of 70 per cent when compared with $4.6 billion for the same period last year.
  • The average daily turnover of CBBCs for the first six months of 2025 was $9.6 billion, an increase of 78 per cent when compared with $5.4 billion for the same period last year.
  • The average daily turnover of ETFs for the first six months of 2025 was $33.8 billion, an increase of 184 per cent when compared with $11.9 billion for the same period last year.
  • The average daily turnover of L&I Products for the first six months of 2025 was $4.2 billion, an increase of 75 per cent when compared with $2.4 billion for the same period last year.
  • There were 44* newly listed companies for the first six months of 2025, an increase of 47 per cent when compared with 30 for the same period last year.
  • Funds raised through IPOs# for the first six months of 2025 was $107.1 billion, an increase of 699 per cent when compared with $13.4 billion for the same period last year.
  • Total funds raised for the first six months of 2025 was $280.8 billion, an increase of 322 per cent when compared with $66.5 billion for the same period last year.

- Derivatives Market

  • The average daily volume of futures and options for the first six months of 2025 was 1,700,322 contracts, an increase of 11 per cent when compared with the 1,532,608 contracts for the same period last year.
  • The average daily volume of Stock Options for the first six months of 2025 was 868,128 contracts, an increase of 25 per cent when compared with the 695,757 contracts for the same period last year.
  • The average daily volume of Stock Futures for the first six months of 2025 was 9,071 contracts, an increase of 9 per cent when compared with the 8,306 contracts for the same period last year.
  • The average daily volume of RMB Currency Futures for the first six months of 2025 was 115,150 contracts, an increase of 43 per cent when compared with the 80,609 contracts for the same period last year.

*  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

 

Jun 2025

Jun 2024

End 2024

No. of listed companies

2,645

2,617

2,631

Total market capitalisation ($Bil.)

42,684.4

32,136.0

35,319.5

No. of newly listed companies *

15

9

71

No. of listed securities

14,994

13,346

13,248

No. of SPAC shares

1

5

4

No. of equity warrants (excluding SPAC warrants)

4

1

2

No. of SPAC warrants

1

5

4

No. of derivatives warrants

5,548

4,919

4,669

No. of inline warrants

-

-

-

No. of CBBCs

5,168

4,009

4,219

No. of unit trusts

226

204

206

No. of debt securities

1,399

1,587

1,513

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

 

Number of Newly Listed Securities (Main Board and GEM) 

 

Jun 2025

Jun 2024

2024

Derivatives warrants

769

415

6,836

CBBCs

1,991

1,504

24,808

Unit trusts

1

4

36

Debt securities

24

38

348

 

Securities Market Turnover (Main Board and GEM) 

 

Jun 2025

May 2025

% Change

Monthly turnover ($Mil.) *

4,834,014

4,206,679

14.9%

Average daily turnover by value ($Mil.) *

230,191

210,334

9.4%

No. of trading days

21

20

-

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

 

Stock Connect Summary 

 

Jun 2025

May 2025

% Change

Total Northbound average daily turnover by value (RMB Mil) (For ETF and Stocks)

148,521

138,788

7.0%

Total Southbound average daily turnover by value ($ Mil) (For ETF and Stocks)

120,837

94,480

27.9%

No. of Northbound trading days

20

19

-

No. of Southbound trading days

20

19

-

 

Turnover by Type of Securities (Main Board and GEM) 

 

Jun 2025

($Mil)

May 2025

($Mil)

% Change

Equities

3,884,809.71

(80.4%)

3,203,817.33

(76.2%)

21.3%

Derivative warrants

158,950.16

(3.3%)

163,546.42

(3.9%)

-2.8%

CBBCs

178,278.44

(3.7%)

194,636.52

(4.6%)

-8.4%

Unit Trusts

(include ETFs)

601,954.70

(12.5%)

639,186.98

(15.2%)

-5.8%

( ) % 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) 

 

Jun 2025

($Mil)

May 2025

($Mil)

% Change

Equities

184,990.94

160,190.87

15.5%

Derivative warrants

7,569.06

8,177.32

-7.4%

CBBCs

8,489.45

9,731.83

-12.8%

Unit trusts

(include ETFs)

28,664.51

31,959.35

-10.3%

Others

477.19

274.60

73.8%

Total

230,191.14

210,333.96

9.4%

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 Jun 2025 was $35,460 million (0.7% of the securities market total turnover).

 

Mainland Enterprises (Main Board and GEM) 

Month-end figures

 

Jun 2025

Jun 2024

End 2024

No. of H shares

386

343

364

No. of Non-H share Mainland enterprises

1,118

1,117

1,114

Market capitalisation (% of market total)

80.9%

79.0%

79.8%

Turnover value (% of equity turnover)

90.9%

87.4%

87.7%

 

Index Performance 

Month-end figures

 

Jun 2025

% Change
over 1 Month

% Change
over 12 Months

S&P/HKEX LargeCap Index

35734.06

2.6%

37.4%

S&P/HKEX GEM Index

16.97

-0.4%

5.3%

Hang Seng Index

24072.28

3.4%

35.9%

Hang Seng China Enterprises Index

8678.30

2.9%

37.1%

Hang Seng China-Affiliated Corporations Index*

4049.99

1.9%

4.7%

CES China 120 Index ^

6492.22

1.3%

24.2%

CES China HK Mainland Index +

6582.57

2.4%

37.1%

* - 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)*

Jun

2025

May

2025

% Change

Total Futures

572,522

586,395

-2.4%

Hang Seng Index Futures

106,677

110,434

-3.4%

Mini Hang Seng Index Futures

69,277

76,831

-9.8%

HSI (Gross Total Return Index) Futures

0

0

-

HSI (Net Total Return Index) Futures

0

0

-

Hang Seng China Enterprises Index Futures

129,114

134,199

-3.8%

Mini-Hang Seng China Enterprises Index Futures

6,986

8,065

-13.4%

HSCEI (Gross Total Return Index) Futures

0

0

-

HSCEI (Net Total Return Index) Futures

0

0

-

HSI Dividend Point Index Futures

10

10

0.0%

HSCEI Dividend Point Index Futures

95

332

-71.4%

HSI Volatility Index Futures

0

0

-

Hang Seng TECH Index Futures

114,515

134,000

-14.5%

MSCI AC Asia ex Japan NTR Index Futures

1,791

329

444.4%

MSCI Australia Net Total Return (USD) Index Futures

0

0

-

MSCI China A 50 Connect (USD) Index Futures

9,261

9,368

-1.1%

MSCI China (USD) Index Futures

0

0

-

MSCI China Net Total Return (USD) Index Futures

2,221

222

900.5%

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

43

36

19.4%

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

12

54

-77.8%

MSCI Hong Kong Net Total Return (USD) Index Futures

295

70

321.4%

MSCI India (USD) Index Futures

102

117

-12.8%

MSCI India Net Total Return (USD) Index Futures

71

19

273.7%

MSCI Indonesia (USD) Index Futures

0

0

-

MSCI Indonesia Net Total Return (USD) Index Futures

601

20

2905.0%

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

5

7

-28.6%

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

4,177

4,414

-5.4%

MSCI Taiwan 25/50 (USD) Index Futures

19

15

26.7%

MSCI Taiwan 25/50 Net Total Return (USD) Index Futures

0

0

-

MSCI Taiwan Net Total Return (USD) Index Futures

131

16

718.8%

MSCI Thailand (USD) Index Futures

0

0

-

MSCI Thailand Net Total Return (USD) Index Futures

867

5

17240.0%

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

5,215

5,841

-10.7%

3-Month HIBOR Futures

8

9

-11.1%

1-Month HIBOR Futures

4

9

-55.6%

RMB Currency Futures - USD/CNH Futures

120,334

100,165

20.1%

RMB Currency Futures - Mini USD/CNH Futures

671

1,717

-60.9%

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

4

0

-

INR Currency Futures - INR/USD Futures

16

91

-82.4%

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

820,124

804,591

1.9%

Hang Seng Index Options

13,705

11,976

14.4%

Mini Hang Seng Index Options

11,659

10,512

10.9%

Weekly Hang Seng Index Options

10,646

11,595

-8.2%

Flexible Hang Seng Index Options

0

0

-

Hang Seng Index Futures Options

1,728

1,241

39.2%

Hang Seng China Enterprises Index Options

12,742

13,063

-2.5%

Mini-Hang Seng China Enterprises Index Options

2,136

2,334

-8.5%

Weekly Hang Seng China Enterprises Index Options

1,685

1,869

-9.8%

Flexible Hang Seng China Enterprises Index Options

0

0

-

Hang Seng China Enterprises Index Futures Options

31,202

27,988

11.5%

Hang Seng TECH Index Options

2,099

2,060

1.9%

Weekly Hang Seng TECH Index Options

432

390

10.8%

Hang Seng TECH Index Futures Options

3,414

3,635

-6.1%

MSCI Taiwan (USD) Index Options

0

0

-

Stock Options

728,675

717,925

1.5%

RMB Currency Options - USD/CNH Options

1

3

-66.7%

Total Futures and Options

1,392,646

1,390,986

0.1%

* Total average daily volume is the sum of the respective average volume of the individual products
Note:
- Number of trading days for Jun 2025 and May 2025 are 21 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)

Jun 2025

May 2025

% Change

Average daily number of exchange trades settled by CCASS

3,571,388

3,095,691

15.37%

Average daily number of settlement instructions (“SIs”) settled by CCASS

123,134

112,177

9.77%

Average daily number of investor SIs (“ISIs”) settled by CCASS

166

178

-6.74%

Average daily settlement efficiency of CNS stock positions on due day (T+2)

99.92

99.93

N/A

Average daily value of SIs settled by CCASS ($ Mil)

405,325.58

350,020.83

15.80%

Shares deposited in the CCASS depository

– % of total issued shares

– % of the total market capitalisation

 

75.40

64.67

 

75.74

64.83

 

N/A

N/A

DCASS Statistics (derivatives market)

Jun 2025

May 2025

% Change

Month-end Open Interest (contracts)

 

 

 

– Equity Index Futures

646,160

673,179

-4.0%

– Stock Futures

23,631

25,232

-6.3%

– Interest Rates Futures

220

191

15.2%

– RMB Currency Futures

34,839

41,433

-15.9%

– INR Currency Futures

1

0

-

– Gold Futures

0

0

-

– Silver Futures

0

0

-

– Iron Ore Futures

0

0

-

– London Metal Mini Futures

0

0

-

– Equity Index Options

1,072,455

1,401,507

-23.5%

– Stock Options

13,374,869

14,590,716

-8.3%

– RMB Currency Options

241

510

-52.7%

 

Year-to-date Statistics 

Securities Market

Jun 2025

YTD

Jun 2024

YTD

% Change

No. of newly listed companies #

44

30

46.7%

Average daily turnover by value ($Mil.) ^

240,206

110,382

117.6%

Average share traded per trading day (Mil. Shares)

290,089

188,486

53.9%

Average no. of trades per trading day

3,470,341

2,045,828

69.6%

Fund raised by IPOs ($Mil.)*

107,061

13,361

701.3%

Total funds raised (including IPOs) ($Mil.)**

280,830

66,475

322.5%

Derivatives Market

Jun 2025

YTD

Jun 2024

YTD

% Change

Average daily volume (contracts)

 

 

 

– Equity Index Futures

591,888

595,290

-0.6%

– Stock Futures

9,071

8,306

9.2%

– Interest Rates Futures

5

0

-

– RMB Currency Futures

115,150

80,609

42.9%

– INR Currency Futures

37

1,541

-97.6%

– Gold Futures

0

0

-

– Silver Futures

0

0

-

– Iron Ore Futures

0

0

-

– London Metal Mini Futures

0

0

-

– Equity Index Options

116,039

151,101

-23.2%

– Stock Options

868,128

695,757

24.8%

– RMB Currency Options

4

4

0.0%

Clearing & Settlement

Jun 2025

YTD

Jun 2024

YTD

% Change

Average daily number of exchange trades handled by CCASS

3,470,398

2,046,895

69.54%

Average daily number of settlement instructions (SIs) settled by CCASS

118,545

98,017

20.94%

Average daily number of investor SIs (ISIs) settled by CCASS

174

142

22.54%

# 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 Jun 2025

 

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

2024/09/27

445,803,810,579

5

2024/10/02

434,202,623,180

6

2025/04/08

433,215,056,869

7

2024/10/09

427,128,350,282

8

2025/04/09

412,440,730,848

9

2025/02/27

406,532,365,157

10

2025/02/28

406,359,041,173

 

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

19,697,919

2025/03/27

Hang Seng China Enterprises Index Futures

651,086

2023/04/25

758,877

2022/12/28

Hang Seng TECH Index Futures

469,133

2025/02/24

328,335

2023/12/22

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

Mini Hang Seng Index Futures

340,150

2024/10/09

35,820

2024/01/23

RMB Currency Futures - USD/CNH Futures

272,575

2024/12/12

46,711

2017/01/04

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

Mini-Hang Seng China Enterprises Index Futures

76,471

2018/02/06

16,436

2014/12/11

Updated 30 Jun 2025