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Evergrande to be removed from Hang Seng China Enterprises Index -Breaking

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© Reuters. FILEPHOTO: A sign at the China Evergrande Centre in Hong Kong is seen on September 23rd, 2021. REUTERS/Tyrone Siu

HONG KONG, (Reuters) – China Evergrande Group, an embattled developer from China was removed from Hong Kong’s Hang Seng China Enterprises Index on Friday. This decision came after the provider’s regular quarterly review.

Hang Seng Indexes Company is not known for giving reasons for index changes and Friday’s statement was no exception.

Hang Seng China Enterprises Index measures the performance and market value of listed mainland Chinese businesses in Hong Kong.

Evergrande has seen its shares fall by more than 80% over the last year.

Hang Seng Indexes also stated that they have added JD (NASDAQ.com) and Netease technology companies to their benchmark.

Hang Seng Indexes aims to add more securities to the benchmark in order to reflect the Hong Kong companies.

($1 = 7.7917 Hong Kong dollars)

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