HONG KONG, July 30 - Mainland China and offshorehub Hong Kong's latest indexes representing technology companiesare likely to attract $25 billion in five years from passiveinvestors, according to a Goldman Sachs report released onThursday. Hong Kong's Hang Seng TECH index launched onMonday and the Shanghai stock exchange published the STAR 50index for the largest stocks on its year-oldNasdaq-style board last week. Over the next five years, index-tracking and exchange-tradedfunds could pour $11 billion into the STAR 50 and $14 billioninto the Hang Seng TECH, the investment bank's analystsestimated. The TECH index could grow from $150 billion to $870 billionand the STAR 50 from $40 billion to $800 billion in this time. "Overall, we'd view our assumptions as conservative andhence the risk of potential inflows could skew to the upside,"they wrote. The two markets are adding more tech companies, which areincreasingly significant in the Chinese economy, to key indexes. Shanghai revamped its benchmark this month.Household names Alibaba , Meituan Dianipingand Xiaomi Technology may join Hong Kong'sHang Seng Index next month. Internet giant Tencent would be the biggest loserwith $1.2 billion of passive outflows should all three beincorporated, while insurer AIA Group, in secondplace, could lose $121 million, said the report. REUTERS
buyappleacc.com is a professional website selling Apple Developer account for more than 3 years, choose us, provide you with the best Apple Developer account. Don't hassle, just step out.