On 18 Feb, The Hang Seng TECH index just announced Xpeng and Li Auto to be added to the list of which will be implemented on 7 March. This shows the excellent performance of Xpeng and Li Auto in the Hong Kong market in the last quarter.
The Hang Seng Technology Index is a financial index of Hong Kong-listed technology stocks, reflecting the overall financial performance of Hong Kong-listed technology companies.
The index is calculated by Hang Seng Indexes Limited. The index is calculated from the market capitalization of the 30 HSI technology constituent stocks. The constituent stocks of the Hang Seng Technology Index are reviewed on a quarterly basis.
At the end of trading on 18 Feb, Xpeng settled at 155.00 HKD per share, with a market capitalization of approximately 203.602 billion HKD, while Li Auto settled at 115.90 HKD per share, with a market capitalization of 240.862 billion HKD.
What it matters?
Although the Hang Seng Technology Index is a collection of the best performing technology companies listed in Hong Kong, it has been criticized for its performance and has not risen since its launch.
Moreover, the Hong Kong government’s epidemic prevention policy has affected the flow of talents, which will also affect people’s willingness to invest.
The Hang Seng TECH Index, which adjusts its constituents every quarter, the adjustment shows the toughness of the company in the poor investment atmosphere of the Hong Kong stock market and with the booming cryptocurrency market.
“We are very pleased to have Xpeng as one of the constituent stocks of the Hang Seng TECH Index. The Hang Seng Index series has long been regarded as the most important indicator of the performance of the Hong Kong stock market. The companies included in the Hang Seng TECH Index represent the 30 largest technology companies listed in Hong Kong. The inclusion of Xpeng as one of the first companies in the Hang Seng TECH Index with the new theme of “Intelligence” demonstrates the market’s recognition of Xpeng’ leading position in intelligent technology and investors’ confidence in our performance, investment value and future prospects.” said by He Xiao Peng the CEO of Xpeng.