The Hang Seng Index Now Includes 30 Metaverse-Related Chinese Firms
The index is aimed to "assist investors in identifying potential possibilities emanating from these innovative and disruptive movements in the mainland China and Hong Kong stock markets," according to Daniel Wong, Director and Chief Index Officer of Hang Seng Indexes Company.
Tencent, Netease, and Apple suppliers Goertek and Sunny Optical Technology are among the companies in the index, including entertainment, technology, and electronic manufacturing companies.
Since December 31, 2018, the index has lost 27% of its value. In the last three days, local governments in Guangzhou, Xiamen, and Hangzhou have launched initiatives to incentivize local metaverse enterprises. The Hang Seng China Metaverse Index is designed to reflect the performance of mainland Chinese enterprises engaged in metaverse-related business, value chains, and development. The Hang Seng Shanghai-Shenzhen-Hong Kong Genomics and Oncology Index, on the other hand, is designed to track the performance of firms engaged in genomics and oncology-related research and development.