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Alibaba leads Hang Seng Index tilt toward technology stocks

Finance-heavy Hong Kong benchmark also adds Xiaomi in Sept. reweighting

Hong Kong's benchmark Hang Seng index and the Hang Seng China Enterprise index will be reshuffled in September. (Source photos by Reuters and AP)

HONG KONG -- Alibaba Group Holding, Xiaomi and pharmaceutical research group WuXi Biologics (Cayman) will be added to the Hang Seng Index next month, a milestone in the Hong Kong market's growing focus on Chinese technology stocks.

Hang Seng Indexes, a unit of Hang Seng Bank, signaled Friday that a bigger shift could be in the works, announcing a six-month comprehensive review of the benchmark to ensure it appropriately represents "the fast-expanding innovation and new economy sectors."

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