Banking News
- China Shenhua added to Hang Seng China AH Index Series
Date: 29-Oct-2007 Sources: (Xinhua Online)
China Shenhua, the nation's largest coal producer, has been added to the Hang Seng China AH Index Series which comprises the largest and most liquid Chinese mainland companies with both A-share and H-share listings.
The move will come into effect on Nov. 5, said HSI Services Ltd on Friday night. Following the constituent change, the number of constituent stocks in the China AH Index Series will increase from 33 to 34.
HSI Services said China Shenhua met all the criteria for entrance to the series. On its debut earlier this month, Shenhua lifted the market capitalization of the Chinese mainland's two bourses to more than 27 trillion yuan.
The company listed on the Hong Kong stock exchange in June 2005. So far, its total H-share value has jumped five times from 17.5 billion U.S. dollars to 108.7 billion U.S. dollars.
The Hang Seng China AH Index Series was launched on July 9 this year. The introduction of the series was aimed at helping investors track the performance of those companies that have both mainland-listed A shares and Hong Kong-listed H shares.
The China AH Series comprised 27 constituent companies that completed share reform when the indexes were launched. The largest index constituents included China Life, Sinopec Corp., China Merchants Bank and the Industrial and Commercial Bank of China.
Analysts said with more mainland companies trading stocks on both markets, Hong Kong investors will pay more attention to the mainland markets.
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