XPEV - Hang Seng Index Set For Global Expansion With Prada XPeng And BeiGene On The Horizon | Benzinga
Amid efforts to expand the Hang Seng Index, Hong Kong’s stock benchmark, Prada (OTC:PRDSY), XPeng (NYSE:XPEV), and BeiGene (NASDAQ:BGNE) are anticipated to be included. The potential addition of foreign companies may signal a significant shift in the global market and boost the city’s stock market representation.
What Happened: The Hang Seng Index is expected to include more foreign companies and electric vehicle (EV) firms in its upcoming quarterly review, Bloomberg reported. The review results are due to be announced on Friday by Hang Seng Indexes Co.
Analysts have suggested that Chinese EV manufacturer XPeng Inc. and foreign companies listed in Hong Kong, including Prada SpA, could be among the potential candidates for inclusion in the stock benchmark.
Rebecca Sin, from Bloomberg Intelligence, believes that adding foreign stocks to the index could encourage more global companies to consider listing in Hong Kong. This development comes at ...