(Yicai Global) Jan. 17 -- Shares in Chinese phone maker Xiaomi Technologies surged 8.5 percent and hit a more than one-year high this afternoon amid speculation that it could be included in the Hang Seng Index, the benchmark for the Hong Kong Stock Exchange.

Its share price [HKG:1810] was at HKD13.26 (USD1.71) as of 2.17 p.m., its highest since Dec. 28, 2018. The rise pushed its market cap passed HKD314 billion (USD40.4 billion).

The operator of the Hang Seng is soliciting public opinions on whether it should include companies with weighted voting rights or secondary listings in the index, fueling speculation that the likes of Xiamo, Alibaba and Meituan may join the benchmark sometime after May this year.

Editor: James Boynton