Starting as of Monday, China Netcom Group Corporation was added into the list of the HSI companies, and Denway Motors Limited was removed from the HSI list at the same time, according to HSI (Hang Seng Index) Services Limited.
HSI Services Limited said that China Netcom Group Corporation Limited had been listed for 13 months and ranked 13 in terms of average market value for the 12 months ending on Dec. 30, 2005. Accordingly, it has met the requirements of the Guidelines for Handing Large-Cap Stocks listed for less than 24 months and has been selected to join the HSI.
In a related development, Dongfeng Group and China Construction Bank became as of Monday the new members of the Hang Seng China Enterprises Index while Shenzhenexpress, China Eastern Airlines, TravelSky Tech, Yizheng Chem and Zhenhai Refining were removed from the same index.
Thus, the total number of constituent stocks in the H-shares Index will drop from 40 to 37 as of Monday.
The Hang Seng Composite Index has 200 stocks.
(Xinhua News Agency March 7, 2006)
