(Bloomberg) -- Kuaishou Technology and New Oriental Education & Technology Group Inc. will be added to Hong Kong’s Hang Seng Index and New World Development Co. 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 Co. said Friday.
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% Friday.
Hopes for inclusion spurred a gain of as much as 8.3% for toy company Pop Mart International Group Ltd. earlier in the day.
The index provider said Chinese insurance company PICC Property and Casualty Co. will be added to the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in Hong Kong. Developer Longfor Group Holdings Ltd. will be removed. The changes come into effect on Dec. 9.
--With assistance from Foster Wong.
©2024 Bloomberg L.P.