Hang Seng Indexes adds SpaceX to Hong Kong-US Tech Index, expanding beyond the Magnificent 7

SpaceX is joining one of Asia’s most watched cross-border tech benchmarks. Hang Seng Indexes Company confirmed that Space Exploration Technologies Corp. will be added to the Hang Seng HK-US Tech Index following its public listing on June 12, 2026.

The move expands the index’s US-listed roster from seven companies to eight. Those original seven, informally known as the “Magnificent 7,” include names like Amazon, Apple, and Nvidia. With SpaceX’s arrival, the grouping picks up a new informal label: “M7+1.”

How the rebalancing works

SpaceX will begin trading under the ticker SPCX.US on June 12. After SpaceX completes its seventh trading day, projected for June 20, the adjusted weightings among US constituents will be calculated. Those new equal weights officially take effect on June 29, which lines up with SpaceX’s 11th trading day.

Once the dust settles, all eight US names will carry equal representation. That equal-weighting approach is worth noting. Most major indices weight by market capitalization, meaning the biggest companies dominate the index’s performance. Equal weighting is a deliberate choice that gives smaller constituents the same pull as the giants.

What this means for investors

When a stock gets added to a widely tracked benchmark, funds that passively track that index are essentially required to buy shares. That creates a natural source of demand that can support the stock’s price during its early days as a public company.

The equal-weighting methodology also has implications. Rather than SpaceX needing to compete with Apple or Nvidia on market cap to earn its share of index-tracking flows, it gets an equal seat at the table from day one.

For investors already holding positions in the other seven US constituents through this index, the rebalancing means their effective exposure to each name will decrease slightly as the pie gets divided eight ways instead of seven. Portfolio managers will need to account for this when the new weights kick in on June 29.

The announcement was made on May 27, giving market participants roughly two weeks of lead time before SpaceX’s first day of trading.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.