A 0.9% index weight just triggered up to $1.75B in forced buying, and the stock dropped anyway

Index inclusion is one of the few genuinely scheduled events in markets. When a name gets added, every fund tracking that index has to buy it, on a known date, whether the manager likes the price or not. The Hang Seng Tech Index just added two Chinese AI companies, Zhipu and MiniMax, at a combined weight under 1%. Morgan Stanley still pegged the passive buying at roughly 1.25 to 1.75 billion dollars. A sub 1% weight pulling in that much non discretionary demand is the part people underestimate a