Tom.com, Others Added to Hang Seng
Sub-Indexes in Reshuffle
By Yeong Choy Leng
Hong Kong, Nov. 14 (Bloomberg) -- Tom.com Ltd., Sunevision Holdings
Ltd., hongkong.com Corp. and China Data Broadcasting Holdings Ltd. will
be added to the Hang Seng IT Index, said the company that operates the
index.
HSI Services Ltd., a subsidiary of Hang Seng Bank Ltd., which compiles
Hong Kong's benchmark Hang Seng Index, said it will add the stocks to its
Hang Seng IT Index and Hang Seng IT Portfolio Index as the companies
achieved a six-month average market capitalization of HK$1 billion ($128
million) or more. HIS will also make changes to three other of its indexes.
Tom.com is Hong Kong billionaire Li Ka-shing's Internet company while
Sunevision is the information technology unit of Hong Kong's
second-largest developer. SUNDAY Communications Ltd., Hong Kong's
fifth-largest mobile phone operator, will also be included.
The Hang Seng IT Indexes were started this year and have attracted the
attention of retail stock traders, though not much from institutional
investors, analysts said.
``Although the Hang Seng IT Indexes are presently not a barometer since
they are recently created, inclusion in any indexes will mostly create
upside potential for the stock,'' said Lachlan Christie, chief executive of
Typhoon Eight Research Ltd. ``It'll give retail investors more confidence.''
HSI Services will also remove three companies in the Hang Seng
China-Affiliated Corporations Index (HSCCI), which tracks China-backed
companies incorporated and listed in Hong Kong. These changes are
effective Dec. 1.
HSI said it will remove Hing Kong Holdings Ltd., a construction company
and part owner of a technology park in Shenzhen, from the HSCCI index
as less than 35 percent of its shares are held by mainlanders. Shougang
Concord Century Holdings Ltd. and Yunnan Enterprises Holdings Ltd. will
also be dropped because trading volume fell below that required.
HSI Services also made the following changes in the Hang Seng 100
(HS100) Index, which reflects the performance of the 100 stocks with the
largest market capitalization and highest turnover:
Stocks to be added:
China Unicom Ltd. (762 HK )
e-Kong Group Ltd. (524 HK )
e-New Media Co. Ltd. (128 HK )
Hikari Tsushin International ltd. (603 HK )
Hong Kong Exchanges and Clearing Ltd. (388 HK ) ICG
AsiaWorks Ltd. (715 HK )
Next Media Ltd. (282 HK )
PetroChina Co. Ltd. (857 HK )
Softbank Investment Intl (Strategic) Ltd. (648 HK )
Stocks to be removed:
China Resources Beijing Land Ltd. (1109 HK )
Hongkong and Shanghai Hotel, Ltd., The (45 HK )
Hopewell Holdings Ltd. (54 HK )
Pacific Concord Holding Ltd. (438 HK )
Paliburg Holdings Ltd. (617 HK )
Qingling Motors Co. Ltd. (1122 HK )
Shum Yip Investment Ltd. (604 HK )
Shun Tak Holdings Ltd. (242 HK )
Zhejiang Expressway Co. Ltd. (576 HK )
The New Hang Seng MidCap 50 Index (New HSMCI), which shows the
performance of the 50 stocks ranked after the HS100 constituents will
make the following changes:
Stocks to be added:
Asia Logistics Technologies Ltd. (862 HK )
Asia Orient Holdings Ltd. (214 HK )
China Resources Beijing Land Ltd. (1109 HK )
Hongkong and Shanghai Hotels, Ltd. (45 HK )
Hopewell Holdings Ltd. (54 HK )
Pacific Concord Holding Ltd. (438 HK )
Prosper eVision Ltd. (979 HK )
Qingling Motors Co. Ltd. (1122 HK )
Shum Yip Investment Ltd. (604 HK )
Skyworth Digital Holdings Ltd. (751 HK )
Zhejiang Expressway Co. Ltd. (576 HK )
Stocks to be removed:
ICG AsiaWorks Ltd. (715 HK )
China Everbright International Ltd. (257 HK )
Dickson Concepts (International) Ltd. (113 HK )
e-Kong Group Ltd. (524 HK )
Hong Kong Construction (Holdings) Ltd. (190 HK )
Lai Sun Development Co. Ltd. (488 HK )
Lippo China Resources Ltd. (156 HK )
Maanshan Iron & Steel Co. Ltd. (323 HK )
Mingly Corporation Ltd. (478 HK )
Moulin International Holdings Ltd. (389 HK )
Regal Hotels International Holdings Ltd. (78 HK ) |
