Kenanga Investment Bank Bhd has launched two structured warrants linked to the Hang Seng Biotech Index (HSBIO), giving Malaysian investors listed exposure to Hong Kong’s biotechnology and healthcare sector for the first time through this type of instrument.
The warrants, HSBIO-CAA (0661AA) and HSBIO-HBA (0661BA), were introduced on Sept 9 at the 11th Belt and Road Summit in Hong Kong. Kenanga said they are the world’s first structured warrants linked to the HSBIO.
The index tracks 30 of the largest biotechnology and healthcare companies listed in Hong Kong. It gained 64.5% in 2025 and rose by more than 80% at its peak during the year, outperforming the Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng TECH Index.
Interest in the sector has also expanded through other investment products. Futures contracts and exchange-traded funds linked to HSBIO are already listed, with the ETFs holding more than HK$11 billion in assets under management.
Kenanga Group Managing Director Datuk Chay Wai Leong said the launch was aimed at broadening the range of market exposures available to Malaysian investors beyond traditional benchmark indices.
The bank already offers structured warrants linked to the HSI, HSCEI and HSTECH. According to Kenanga, its HSI-linked structured warrants accounted for about 53% of average daily trading volume and 51% of average daily trading value for all HSI structured warrants traded on Bursa Malaysia in 2025.
The addition of HSBIO-CAA and HSBIO-HBA extends Kenanga’s range of Hong Kong-linked structured warrants as investors seek more direct access to specific sectors within the region’s equity markets.
