This Aug 20, 2016 photo shows a logo of China Evergrande Group on a high-rise office building in Shenzhen, Guangdong province. (PHOTO / IC)
HONG KONG – Embattled developer China Evergrande Group will be removed from Hong Kong's Hang Seng China Enterprises Index, the benchmark provider said on Friday following its regular quarterly review.
Separately, Hang Seng Indexes said they had added technology firms JD.com and Netease to the benchmark Hang Seng Index
The Hang Seng Indexes Company does not typically give reasons for changes to its indexes, and did not in Friday's statement.
The Hang Seng China Enterprises Index is designed to reflect the performance of Chinese mainland companies listed in the Hong Kong Special Administrative Region, and includes the top 50 eligible stocks by a measure of their market value.
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Evergrande's shares have fallen over 80 percent year to date.
Separately, Hang Seng Indexes said they had added technology firms JD.com and Netease to the benchmark Hang Seng Index.
Hang Seng Indexes is trying to include more securities in the benchmark to make it more reflective of the companies listed in Hong Kong.
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