Alibaba, Xiaomi to join Hong Kong’s Hang Seng index

People walk by the Alibaba Group logo. Photo: Bloomberg

E-commerce conglomerate Alibaba, handset maker Xiaomi and WuXi Biologics will enter the Hang Seng next month, broadening Hong Kong’s traditionally financial services-dominated index.

The change announced by the Hang Seng Indexes Company on Friday was made possible after the 50-year-old benchmark’s publisher changed the rules on shareholder structure and secondary listings in May.

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