Hang Seng TECH Index (HSTECH) Warrants
The Hang Seng TECH Index tracks the 30 largest technology-focused companies listed in Hong Kong. It is materially more volatile than the broad Hang Seng Index, and warrants over it are among the most actively traded instruments on HKEX for exactly that reason.
Curated Hang Seng TECH Index (HSTECH) warrant listings
| Underlying | Issuer | Type | Moneyness | Strike | Break-even | Eff. gearing | Premium | Expiry | Listing |
|---|---|---|---|---|---|---|---|---|---|
| Hang Seng TECH Index (HSTECH)Hong Kong · HSTECH4500C | Macquarie | call warrant | OTM | HKD 4,500 | HKD 4,530 | 28.5× | 0.0% | 28 Aug 202614d left | View live ↗ |
| Hang Seng TECH Index (HSTECH)Hong Kong · HSTECH4000P | Macquarie | put warrant | OTM | HKD 4,000 | HKD 3,972 | 26.3× | 0.0% | 28 Aug 202614d left | View live ↗ |
| Hang Seng TECH Index (HSTECH)Hong Kong · HSTECHBULL4200 | Macquarie | Bull CBBC | ATM | HKD 4,200 | HKD 4,414 | 11.5× | 0.0% | 29 Sept 202646d left | View live ↗ |
Curated snapshot for education only — not live pricing. Moneyness, break-even, effective gearing, and premium are Black-Scholes model estimates over each row's snapshot reference price (rate 3%, per-row sample IV) and will differ from live market values. Click "View live ↗" for the issuer/exchange's authoritative listing.
What-if scenario simulator
Pick a curated Hang Seng TECH Index (HSTECH)warrant and slide the underlying move to see how the Black-Scholes model estimates the warrant's value would respond — an educational illustration of gearing, not live pricing.
+5.0%
+231.8%
- Effective gearing
- 28.5×
- Delta
- 0.0001
- Days to expiry
- 14d
Black-Scholes model estimate over the curated snapshot reference price (IV 33%, rate 3%) — illustrative education only, not live pricing or investment advice.
Price a Hang Seng TECH Index (HSTECH) warrant
Try the calculator prefilled with a representative Hang Seng TECH Index (HSTECH) warrant (HSTECH4500C).
Open the pricing calculator →Concentration is the point, and the risk
HSTECH holds roughly 30 names in a single sector, so it does not behave like a diversified index. Sector-wide news — regulatory intervention, a shift in policy toward the platform economy, a change in global rate expectations — moves the whole basket at once. That concentration is what produces the volatility warrant traders come for, and it is also why positions can move against you faster than on the HSI.
Higher volatility means a higher premium
Implied volatility is a direct input to the warrant price, so an HSTECH warrant will normally carry more time value than an HSI warrant with an equivalent strike and expiry. You are paying for a wider distribution of outcomes. The corollary is that if volatility subsides after you buy, the warrant can lose value even with the index flat.
CBBCs are available on HSTECH too
Hong Kong lists callable bull/bear contracts alongside ordinary warrants. A CBBC carries a call level: if the index touches it, the contract terminates immediately, and for a Category N contract you receive nothing. On a high-volatility underlying like HSTECH, the distance between the current level and the call level is the single most important number on the contract.
FAQ
How is HSTECH different from the HSI for warrant trading?
HSTECH concentrates exposure in about 30 large Hong Kong-listed technology names rather than the broad HSI basket, so HSTECH warrants tend to show higher implied volatility and higher gearing than equivalent HSI warrants. More upside per point of index move, and more downside.
Should I use a warrant or a CBBC on HSTECH?
A warrant has no knock-out: it can fall a long way and still recover before expiry. A CBBC terminates permanently if the call level is touched, which on a volatile index can happen on an intraday spike you would otherwise have survived. CBBCs offer tighter tracking; warrants offer resilience.
Does HSTECH settle the same way as HSI?
Both index products settle against an averaged expiry value rather than a single closing print. Check the specific expiry mechanics on the listing document, since the observation schedule is defined per product.
See all structured warrants or browse Hong Kong warrants.