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Hang Seng Index adds 30 metaverse-related Chinese companies

Metaverse

forkast.news 24 May 2022 04:11, UTC
  
Reading time: ~2 m

Hang Seng Index Company launched the China Metaverse Index on Monday to track the performance of 30 metaverse-related listed businesses in Hong Kong, Shanghai and Shenzhen. 

Fast facts

  • Hang Seng Index Company is a subsidiary of major Hong Kong bank Hang Seng Bank, which is widely known for its product Hang Seng Index.
  • Director and Chief Index Officer of Hang Seng Indexes Company, Daniel Wong, said the index is designed to “help investors capture potential opportunities arising from these innovative and transformative trends in the mainland China and Hong Kong stock markets.”
  • The index includes entertainment, technology and electronic manufacturing companies including Tencent, Netease, and Apple suppliers Goertek and Sunny Optical Technology.
  • The index has tracked a 27% loss since Dec. 31, 2018.
  • In the past three days, local governments in Guangzhou, Xiamen and Hangzhou have introduced plans to incentivize local metaverse companies.

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