Hang Seng Indexes Company has made a significant announcement regarding the inclusion of SpaceX, the global leader in commercial space exploration, into the Hang Seng Hong Kong US Tech Index. This move aims to further diversify the index's portfolio with high-quality global technology assets.
According to the inclusion rules, SpaceX will officially become a constituent of the index on the 11th trading day following its initial public offering on the US stock market. The core product tracking this index is the CSOP Hang Seng Hong Kong US Tech ETF, which serves as a key tool for investors seeking exposure to top-tier technology sectors in both China and the United States.
The Hang Seng Hong Kong US Tech Index will be updated to include SpaceX. The index's compilation methodology has been revised, adding SpaceX to the designated list of US-listed constituents. Currently, the US-listed constituents are the "Magnificent Seven" tech giants: Amazon, Alphabet (Google), NVIDIA, Apple, Tesla, Microsoft, and Meta.
Following the inclusion of SpaceX, the weightings of the eight US-listed constituents will be recalculated to equal weight after the close of trading on SpaceX's 7th trading day. The new constituent and the updated weightings will take effect on SpaceX's 11th trading day.
The Hang Seng Hong Kong US Tech Index is a core cross-border technology index from Hang Seng Indexes, focusing on high-quality listed technology companies in both Hong Kong and the US markets. It aggregates leading new economy assets from domestic and international markets, currently comprising 31 constituents. Hong Kong-listed constituents include tech leaders such as Tencent Holdings, Alibaba Group, Meituan, SMIC, Xiaomi Corporation, and Sunny Optical Technology, covering mainstream tech sectors like internet platforms, semiconductors, smart hardware, and new energy vehicles.
SpaceX, which is poised to join the index, is the absolute leader in the global commercial space sector and is in the final stages of its journey to a US stock market listing. Reports indicate that on May 20, 2026, SpaceX formally submitted its S-1 registration statement to the US SEC, finalizing its listing plan on the Nasdaq. This marks the impending entry of this private technology company, which has been operating in the space sector for 24 years, into the public capital markets.
Based on the publicly disclosed listing timetable, SpaceX will commence a global roadshow in early June, finalize its offering price on June 11, and officially begin trading on the Nasdaq on June 12. To accommodate public market financing needs, the company has completed a 1-for-5 stock split to lower the investment threshold and attract a diverse range of global investors. Market data suggests SpaceX's target valuation range for this IPO is between 1.75 trillion and 2 trillion US dollars, with an expected fundraising scale of 75 billion US dollars, potentially setting a new global record for the largest IPO fundraising.
Financially and operationally, SpaceX demonstrates strong growth momentum. Its full-year revenue for 2025 reached 18.7 billion US dollars, a 33% year-on-year increase. Core businesses like the Starlink satellite internet service and Starship development continue to advance rapidly. Although the company reports periodic losses due to substantial R&D investment in frontier technologies, it maintains a leading global position in terms of technological barriers and market share. Furthermore, synergies with its artificial intelligence business contribute to a dual-core development strategy of "Space + AI," indicating vast long-term growth potential. This is a core rationale for its inclusion in the index by Hang Seng Indexes.
The CSOP Hang Seng Hong Kong US Tech ETF is the primary trading product linked to the index. Currently managing approximately 630 million Hong Kong dollars in assets and issued by CSOP Asset Management, it is a rare cross-border ETF product covering dual technology markets. It provides ordinary investors with a convenient channel for global technology asset allocation.
Notably, as a Stock Connect eligible product included in the Southbound Trading scheme, the CSOP Hang Seng Hong Kong US Tech ETF allows trading without the need for investors to individually exchange foreign currency or face additional QDII quota limitations. Access is granted simply by having Hong Kong Stock Connect trading permissions, significantly lowering the barrier for ordinary investors to gain exposure to top US tech stocks and Hong Kong's new economy leaders. With SpaceX's imminent inclusion in the underlying index, this ETF will simultaneously incorporate this global commercial space leader, further enriching its asset dimensions, strengthening its position in frontier technology sectors, and solidifying its role as a core instrument for capital allocation in high-end technology fields such as AI, commercial space exploration, and the digital economy.
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