February 6, 2018 / 11:30 AM / 5 months ago

Tencent, China Mobile to join Hang Seng China Enterprises Index

HONG KONG, Feb 6 (Reuters) - Hong Kong’s stock index compiler said on Tuesday that a total of ten Red-chips and P-chips, including Tencent, CITIC Ltd and China Mobile Ltd, have been selected to join the Hang Seng China Enterprises Index as constituents.

Other constituents include Guangdong Investment Ltd , China Gas Holdings Ltd, CNOOC Ltd , Hengan International Group Co Ltd, CSPC Pharmaceutical Group Ltd, China Resources Land Ltd and Shenzhou International Group Holdings Ltd , it added.

The 10 Red-chips and P-chips constituents will be added to the HSCEI in five phases over a period of 12 months, with the first phase starting on March 5 and the last phase on March 2019, Hang Seng Indexes said in a statement.

Meanwhile, ZhongAn Online P & C Insurance Co Ltd will be added to the index of Chinese enterprises listed in Hong Kong, while China Railway Construction Corporation Ltd will be removed.

Wharf Real Estate Investment Company Limited (Wharf REIC) , the spin-off unit of Hong Kong property-to-media conglomerate Wharf, will replace The Wharf (Holdings) Ltd to become a component of the Hang Seng Index.

The changes are part of the index manager’s quarterly review and will take effect on March 5.

Reporting by Twinnie Siu; Editing by Louise Heavens

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