Prada, XPeng and BeiGene May Join Hong Kong's Stock Benchmark [BNN Bloomberg (Canada)]
PRADA SPA UNSP/ADR (PRDSY)
NASDAQ:AMEX Investor Relations:
pradagroup.com/en/investors/investor-relations/shareholder-info.html
Company Research
Source: BNN Bloomberg
Chinese EV maker XPeng Inc. and Hong Kong-listed foreign companies like Prada SpA are among potential candidates for inclusion in the stock benchmark, analysts said. Hang Seng Indexes Co. is due to announce results of the review on Friday. “Foreign companies listed on HKEX might also be included, with names like Prada and Samsonite International SA in the consumer discretionary sector and Yancoal Australia Ltd. elsewhere,” said Rebecca Sin, an analyst at Bloomberg Intelligence. The addition of foreign stocks to the index may send a signal to more global companies to consider a listing in Hong Kong even as the city grapples with a slumping market. The Hang Seng gauge has slid more than 6% this year, after its fourth straight annual loss in 2023. Some health-care names such as BeiGene Ltd. and Innovent Biologics Inc. may also join the benchmark given that the sector is the only one that remains under-represented, with market cap coverage of less than 50%, Sin said. READ: Li Aut
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