Hong Kong is planning to double the number of stocks in its benchmark index, in a shake-up that will better reflect the growing dominance of Chinese listings in the city’s market.
Hang Seng Indexes will raise the number of stocks in its eponymous benchmark, tracked by about $28bn in exchange traded and local pension funds, from 52 to 80 by mid-2022. It will ultimately raise the total to 100, the company announced after markets closed in Hong Kong on Monday.
Analysts say the move will help the Hang Seng to better reflect mainland Chinese companies, particularly highly valued technology groups that have flocked to raise funds in the Asian financial hub in recent years.
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