The COVID-19 pandemic has significantly disrupted both working practices and life in general and many of us have been adjusting to this new working world and lifestyle. We have gotten used to working from home for extended periods of time and are now relying on digital ways to complete our daily errands and tasks.
Traditional businesses were impacted as well and many companies took this opportunity to pivot their operations and automate processes as strategies were redefined to meet the increasing need for a digital transformation.
Many of the technology companies that we were familiar with come from the United States, particularly Silicon Valley in the past twenty years. However, in recent years, the Chinese have also increased their technological research and absorption and have strengthened their digital presence globally.
This post was originally posted here. The writer, Brian Halim is a veteran community member and blogger on InvestingNote, with a username known as @3Fs and has 2261 followers.
How Hang Seng TECH Index Companies Performed During COVID-19
Alibaba, Tencent, Xiaomi, Lenovo, and JD.com… are some of the Chinese technology companies that have become very popular and are tracked by the Hang Seng TECH Index.
The Hang Seng Tech Index which represents the 30 largest technology companies by market capitalization listed on the Hong Kong Stock Exchange was launched on the 27th July 2020.
Since its inception till 25 November 2020, the Hang Seng TECH Index has gained nearly 20%, outperforming Hang Seng Index, NASDAQ, and Straits Times Index during the same period.
How Investors Can Invest In Tech Companies Listed on the HKEX
For those who are attracted by the growth in the technology sector, how can they get a piece of the pie?
An investor could attempt to build their own portfolio of technology companies by purchasing multiple stocks, for instance, Alibaba Group Holding Ltd (HKG: 9988), JD.com… Inc (HKG: 9618), and Meituan Dianping (HKG: 3690). …