CATL, CMOC Group, Laopu Gold join Hang Seng Index in latest quarterly review
The three companies will be added to the gauge after the market close on March 6, while car dealer Zhongsheng Group will be removed
Electric-vehicle battery maker Contemporary Amperex Technology (CATL), copper miner CMOC Group and gold jewellery retailer Laopu Gold will join the Hang Seng Index next month following the latest quarterly review, as the compiler of the city’s stock benchmark pushes ahead with its plan to boost the number of constituent stocks after Hang Seng Bank withdrew its listing status.
The three companies will be added to the gauge after the market close on March 6. Chinese car dealer Zhongsheng Group was ejected. The three additions and one deletion would take the index tally to 90 from 88, Hang Seng Indexes Company said in a statement on Friday after the market close.
CATL, the world’s largest maker of lithium batteries, raised US$4.6 billion in its Hong Kong secondary listing in May, the city’s largest offering last year. Its Hong Kong-traded stock price has surged about 61 per cent since the listing, closing at HK$517.50 on Friday.
CMOC Group, one of the world’s largest producers of copper and cobalt, has gained about 8 per cent year to date, while Laopu Gold has climbed about 19 per cent.
Zhongsheng Group has risen nearly 4.6 per cent so far this year.
Hong Kong’s benchmark Hang Seng Index closed at 26,567.12 on Friday, down 1.7 per cent. The Hang Seng Tech Index, which tracks the city’s 30 largest technology stocks, fell 0.9 per cent, while the Hang Seng China Enterprises Index dropped 1.6 per cent.