Xpeng Motors, listed in Hong Kong on July 7, will soon be included in the Hang Seng indexes, which is expected to see an inflow of passive investment funds tracking them.
Xpeng will be included in the Hang Seng Composite Index as well as the Hang Seng Consumer Goods Manufacturing and Services Index after the market close on July 20, 2021, effective Wednesday, July 21, 2021, Hang Seng Indexes Company Limited said Thursday.
Within the Hang Seng Composite Index, Xpeng is classified in the Hang Seng Composite Industry Index (Non-Essential Consumption), the Hang Seng Composite Large Cap Index, and the Hang Seng Composite Large and Mid-Cap Index.
Xpeng, which closed flat at its offering price of HK$165 on its first day of trading in Hong Kong on Wednesday, fell more than 8 percent to HK$151.50 in Hong Kong on Thursday amid a broader sell-off in technology stocks.
On July 1, FTSE Russell said in a statement on its website that Xpeng's ADSs will be included in FTSE Russell's global equity indexes, including the FTSE All-World Index, the FTSE Global Large Cap Index, and the FTSE Emerging Index, on July 8.
Xpeng's local peers Nio and Li Auto were both previously included in the FTSE Russell Global Equity Index, with Nio on Sept. 2, 2020, and Li Auto on Dec. 21, 2020.
Xpeng ADS fell with 6 percent in US pre-market trading on Thursday. The company fell 5.86 percent to $41.47 in the US yesterday.
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