Kuaishou Technology and New Oriental Education & Technology Group will be added to Hong Kong’s Hang Seng Index and New World Development 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 said on Nov 22.
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% on Nov 22.
The index provider said Chinese insurance company PICC Property and Casualty will be added to the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in Hong Kong.
Developer Longfor Group Holdings will be removed. The changes come into effect on Dec 9.
