Hong Kong’s Benchmark Index to Add Kuaishou, New Oriental, Remove New World

Bloomberg

22 Nov 2024

Kuaishou Technology and New Oriental Education & Technology Group Inc. will be added to Hong Kong’s Hang Seng Index and New World Development Co. removed following a quarterly review, according to a statement from the index compiler.

The number of members on the benchmark will rise to 83 from 82, Hang Seng Indexes Co. said Friday.

Traders are looking for fresh momentum in Hong Kong’s stock market after a boost from China’s stimulus-led rally in September. The Hang Seng Index has fallen about 17% from an October peak and closed down 1.9% Friday.

Hopes for inclusion spurred a gain of as much as 8.3% for toy company Pop Mart International Group Ltd. earlier in the day.

The index provider said Chinese insurance company PICC Property and Casualty Co. will be added to the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in Hong Kong. Developer Longfor Group Holdings Ltd. will be removed. The changes come into effect on Dec. 9.

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The Hang Seng Index has fallen about 17% from an October peak and closed down 1.9% Friday.</p><p style=\"text-align: start;\">Hopes for inclusion spurred a gain of as much as 8.3% for toy company Pop Mart International Group Ltd. earlier in the day.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6a0283c2509ae1bf08b7df076ec9bf53\" tg-height=\"675\" tg-width=\"1200\"/></p><p>The index provider said Chinese insurance company PICC Property and Casualty Co. will be added to the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in Hong Kong. Developer Longfor Group Holdings Ltd. will be removed. The changes come into effect on Dec. 9.</p></body></html>","source":"bnn_bloomberg_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>Hong Kong’s Benchmark Index to Add Kuaishou, New Oriental, Remove New World</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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