Hong Kong’s Hang Seng to drop Evergrande from China Enterprise index
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Beijing property developer Evergrande built a housing project. The indebted Evergrande has remitted the funds for a key interest payment that was due Sept. 23 — ahead of a 30-day grace period, Chinese state media Securities Times reported.
Noel Celis | AFP | Getty Images
Evergrande stock dropped 1.44% Monday morning. The stock plunged over 80% in the past year.
Hang Seng will be adding biopharmaceuticals company to Evergrande. Innovent BiologicsThe China Enterprise index.
For changes in the Hang Seng index China Resources BeerAnd ENN Energy HoldingsThe index will also include JD and Netease. From the 60 stock currently in the index, the latest update brings the total number to 64 stocks.
JD’s shares rose by nearly 2% Monday morning. Netease rose almost 3%.
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