With the selection of the value list of Jinqilin listed companies in Hong Kong stock market opened, thousands of companies will compete fiercely for the eight Project Awards. Who is the most leading entrepreneur, such as Zhang Yong, Yu Liang, Wang Xing, Lei Jun, Xu Jiayin and Ding Lei. < p > < p > after the closing of Hong Kong stock market on August 14, Hong Kong Hang Seng Index company released the quarterly review results of Hang Seng Index Series up to June 30, 2020, announcing that Alibaba, Xiaomi group and Yaoming bio will be included in the Hang Seng Index. The change will take effect on Monday, September 7, this year. According to the consultation results published on May 18, Hang Seng Index company has made it clear that in this adjustment, companies with different rights in the same share and listed in the second place will be included in the stock selection category of Hang Seng Index and state-owned enterprise index for the first time. < / P > < p > from the specific results, the number of constituent stocks of Hang Seng index will maintain 50, and Xiaomi group, Yaoming bio and Alibaba will be added, and Xinhe real estate, China Wangwang and China Shenhua (601088) H shares will be excluded. Hang Seng China enterprise index will join Xiaomi group, meituan review and Alibaba, excluding sinopharma holdings, BYD (002594) shares and CITIC Securities H shares, and maintain the number of constituent stocks of 50. Hang Seng technology index component stocks unchanged, the number of 30. < / P > < p > in the eyes of market participants, this index adjustment is of far-reaching significance, especially changing the overall appearance of the index. CICC’s analysis shows that at present, the financial sector accounts for 48% and 41% of the Hang Seng Index and the state-owned enterprise index, which is also the reason why it has lagged far behind the MSCI China Index and the main A-share index with more balanced plate structure since the beginning of the year. Therefore, the smooth incorporation of leading Internet companies such as Alibaba and meituan is expected to significantly increase the proportion of the new economic sector in the index. At the same time, the number of constituent stocks in the Hang Seng Composite Index will increase from 476 to 485. Among them, 32 stocks will be included. Among the newly added stocks, there are several pharmaceutical and biological stocks, such as Xinda bio, nuocheng Jianhua, Peijia medical, kangfang biology, kangxinuo bio-b, etc. In addition, Shenzhou car rental, Riqing food, jiumaojiu and other companies are also added to the list. At the same time, 23 shares, including China Shipbuilding defense (600685) H shares and Guangzhou Shenzhen Railway Co., Ltd., will be eliminated. According to CICC Research Report, this time also coincides with the semi annual index review of Hang Seng Composite Index (adjusted twice a year). The reason why Hang Seng Composite Index deserves attention is that the change of its constituent stocks is the main basis of Hong Kong stock connect. < p > < p > since the beginning of this year, southbound funds have increased their holdings in Hong Kong stocks. As of August 14, the accumulated net purchase amount of southbound funds this year amounted to HK $405.4 billion, which has exceeded the scale of any year since the opening of the Shanghai Hong Kong stock connect in 2014. From the perspective of southward capital flow, pharmaceutical biology, Internet technology, consumption and other new economic plate stocks are most favored. < / P > < p > in addition, the Hang Seng A-share industry leader index, Hang Seng sustainable development enterprise index series, Hang Seng esg50 index, Hang Seng A-share top 100 index, Hang Seng Shenzhou 50 index, and Hang Seng Shanghai Shenzhen port and Shenzhen port area comprehensive index were also adjusted. On the Hong Kong stock market on Friday, meituan review rose 3.97%, Xiaomi group rose 0.92%, Alibaba fell 0.56%, and Yaoming bio fell 1.53%. < / P > < p > according to the agency’s forecast, this adjustment may bring certain impact on the market. According to the analysis of CICC’s research report, during the period from the official results of the index adjustment on August 14 to the formal implementation on September 7, similar to the MSCI index adjustment, some active funds will still take certain arbitrage operations according to the adjustment results, but passive funds will choose to adjust their positions on the trading day (i.e. September 4) before the effective date in order to minimize the tracking error. At that time, the relevant stock transactions will be much larger than usual “abnormal volume”, especially in the late trading.