HK Stock Market Move | HAICHANG HLDG (02255) once fell more than 6% after being removed from the Hang Seng Composite Index and will consequently be excluded from the Hong Kong Stock Connect.
Ocean Park (02255) fell more than 6% at one point this morning. As of press time, it is down 4.76%, trading at HKD 0.3, with a turnover of HKD 15.17 million.
HAICHANG HLDG (02255) fell over 6% this morning, and as of the time of writing, it has dropped 4.76% to HKD 0.3, with a trading volume of HKD 15.1713 million.
Regarding the news, on August 21, after trading hours, the Hang Seng Index Company announced the results of its semi-annual index adjustment. All changes will take effect after the market closes on September 4 and will be effective from September 7. At that time, the Shanghai and Shenzhen Stock Exchanges will adjust the range of investable stocks for the Stock Connect accordingly, with HAICHANG HLDG being removed from the Hang Seng Composite Index. CICC pointed out that HAICHANG HLDG and 15 other stocks removed from the Hang Seng Composite Index will also be removed from the Stock Connect. After removal, investors in the Stock Connect will only be able to sell and will not be able to buy.
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