Alibaba and Xiaomi cleared to enter Hong Kong benchmark index

New rules also allow Meituan Dianping to join gauge dominated by financial firms

20200518 HK index main

Companies from the greater China region with a secondary listing in Hong Kong or with shares carrying different voting rights are eligible to be included in the Hang Seng Index beginning in August. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

HONG KONG -- Chinese technology companies Alibaba Group Holding, Xiaomi and Meituan Dianping have been cleared to be included in Hong Kong's main share index under new rules adopted on Monday, in a move that will also reduce the financial domination of the five-decade-old benchmark gauge.

Companies from the greater China region -- which covers the mainland, Hong Kong, Macao and Taiwan -- with a secondary listing in the city or with shares carrying different voting rights are eligible to be included in the index beginning in August.

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