The Hang Seng Index Co. Ltd. has introduced a new index, the Hang Seng Stock Connect Hong Kong Big Bay Area Index, aiming to reflect the performance of companies listed in Hong Kong, but mainly those operating in the Guangdong-Hong Kong-Macau Greater Bay Area, Xinhua news agency reported.

The top 95% of the total market capitalization will be selected as constituent stocks. While companies to be included must also be eligible for southbound trading under the Stock Connect scheme, which links the Shenzhen and Hong Kong stock markets.

The index was launched on Monday with 66 constituent companies. The new index is calculated every 2 seconds and released in real time.

Earlier in May this year, the company launched the Hang Seng Stock Connect Big Bay Area Composite Index, which includes both Hong Kong-listed stocks and mainland-listed A-shares that operate in the Big Bay Area.

The Greater Bay Area encompasses nine cities and two Special Administrative Regions, namely Hong Kong, Macao, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Zhaoqing, Huizhou and Jiangmen.