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Chinese EV maker Li Auto and pharmaceutical firm WuXi Apptec to join Hong Kong’s benchmark Hang Seng Index in December

  • The new additions will increase the number of constituents to 82 from 80, says index compiler Hang Seng Indexes
  • Foreign companies with Hong Kong as their primary listing venue, such as Prada and Samsonite, could be added in the next quarterly review

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The new additions will increase the number of constituents to 82 from 80, says index compiler Hang Seng Indexes. Photo: Reuters
Zhang Shidongin ShanghaiandMartin Choiin Hong Kong
Chinese electric vehicle (EV) maker Li Auto and pharmaceutical company WuXi Apptec will join the Hang Seng Index as new constituents in December, according to the latest quarterly review by Hong Kong’s index compiler.
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The new additions will increase the number of index members to 82 from 80, index compiler Hang Seng Indexes, a subsidiary of Hang Seng Bank, said in a statement on Friday after the market close. The changes will be effective from December 4, it added.

The additions mark a third consecutive quarter of inclusions to the benchmark. In the last rebalancing in August, mainland Chinese drug maker Sinopharm Group was included, while troubled mainland property developer Country Garden Holdings was removed after becoming a penny stock trading below HK$1.
The Hang Seng Index has been slow to add new members even after the index compiler unveiled a sweeping overhaul in 2021 that will eventually boost the number of constituents to 100 over an unspecified period of time.
The process has been partially disrupted by a three-year decline in the index that has wiped out more than 40 per cent of market value. The gauge has slumped about 10 per cent this year, making it the worst performer among the world’s key markets, as China’s post-pandemic growth decelerates and elevated US interest rates spur foreign fund outflows from Hong Kong.

Shares of Li Auto rose 3.2 per cent to HK$157.10 on Friday before the quarterly review was announced, and have gained 104.6 per cent year-to-date. WuXi Apptec slipped 0.6 per cent to HK$93.10 at the market close, and has increased 12.9 per cent so far this year.

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