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Hang Seng Debuts New Index of Benchmark-Beating Tech Stocks

  • Morgan Stanley sees limited boost for Hang Seng Index
  • Further Hong Kong listings of Chinese firms are in pipeline
Bloomberg business news
Watch: Vincent Kwan, chief executive officer at Hang Seng Indexes Company, discusses the launch of a new index tracking Hong Kong’s 30 biggest tech stocks and the significance of the new index.(Source: Bloomberg)
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A new index focused on China’s technology giants is set to give investors greater access to their growing dominance in Hong Kong’s market.

The Hang Seng Tech Index, which launched Monday with backdated prices, tracks the 30 largest tech companies listed in the city, including Tencent Holdings Ltd., Alibaba Group Holding Ltd., Meituan Dianping and Xiaomi Corp. Tracking the gauge this year would have returned 44% for investors, versus a loss of 13% for the Hang Seng Index. The tech measure fell 1.3% Monday.