HKEx launches dividend futures

Hong Kong’s stock exchange follows in Tokyo’s footsteps by launching dividend futures.

Investors in Hong Kong had their first opportunity yesterday to buy dividend futures, the latest new product launched on the Hong Kong stock exchange.

The two new indices are the HSI Dividend Point Index and the HSCEI Dividend Point Index, which are produced by Hang Seng Indexes and measure the total cash dividend value for all constituent stocks of the underlying index, expressed in terms of index points. The HSI tracks the top blue-chips in the Hong Kong market, while the HSCEI is an index that tracks Chinese state-owned enterprises, or H-shares, listed in Hong Kong.

“Our market participants are interested in using dividend futures to hedge the dividend risk of Hong Kong-listed...

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