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Hong Kong market index revamp boosts region as tech listing hub

Alibaba's addition comes amid US threats to cut IPO access for Chinese companies

The Hong Kong Stock Exchange. The overhaul of the Hang Seng Index brings in Alibaba Group Holding, smartphone maker Xiaomi and pharmaceutical research group WuXi Biologics (Cayman).   © Reuters

HONG KONG -- A face-lift of Hong Kong's benchmark stock index and ongoing market reforms in mainland China underscore Beijing's push to create a technology listing ecosystem at a time when the U.S. is threatening to shut out Chinese companies from trading on American exchanges.

The overhaul of the half-century-old Hang Seng Index on Monday has brought in tech conglomerate Alibaba Group Holding, Asia's largest company by market capitalization, smartphone maker Xiaomi and pharmaceutical research group WuXi Biologics (Cayman).

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