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2 The Hang Seng Stock Classification System 3 Selection Criteria for the HSI Constituent Stocks 4 External links |
Hang Seng Index (恒生指數)(HSI) is a capitalization-weighted stock market index in the Hong Kong Stock Exchange. It is used to record and monitor daily changes of the 33 largest companies of the Hong Kong stock market and as the main indicator of the overall market performance in Hong Kong. These companies represent about 70% of capitalization of the Hong Kong Stock Exchange. The constituent stocks that form the Hang Seng Index are:
HSI was started on 24 November 1969 and is compiled and maintained by HSI Services Limited, which is a wholly-owned subsidiary of Hang Seng Bank, the second largest bank listed in Hong Kong, and is responsible for compiling, publishing and managing the Hang Seng Index and a range of other stock indexes, such as Hang Seng Composite Index, Hang Seng HK MidCap Index, etc.
On 2 January 1985, four subindices were established in order to make the index clearer and to classify these 33 constituent stocks into 4 distinct sectors. They are namely
There was changes in the constituent stocks of HSI in the past. On 30 August 1996, First Pacific and Henderson Investment replaced HAECO and Miramar to become the HSI constituent stocks. Also on 31 July 1997, China Resources Enterprise and Cheung Kong Infrastructure were added, while Johnson Electric Holdings Ltd and Oriental Press were removed from the index, while Shun Tak Holdings and South China Morning Post were replaced by China Telecom and Shanghai Industrial Investment from 27 January 1998.
The Hang Seng Stock Classification System is a comprehensive system designed for the Hong Kong stock market by HSI Services Limited. It reflects the stock performance in different sectors. It caters for the unique characteristics of the Hong Kong stock market and maintains the international compatibility with a mapping to the FTSE Global Classification System.
(The FTSE Global Classification System is compiled and administered by FTSE International Limited. "FTSETM" is a trade mark of the London Stock Exchange Limited(倫敦證券交易所) and the Financial Times Limited.)
HSI constituent stocks are selected with the use of extensive analysis, together with external consultation. To be qualify for selection, a company:
Background information on Hang Seng Index
To ensure fairness in its activities, the HSI Services established the Independent Advisory Committee to give advice on issues regarding the management of HSI. The Hang Seng Composite Index Series was launched on 3 October 2001, targeting on providing a broad standard of the performance of the Hong Kong stock market. Comprising the top 200 listed companies in terms of market capitalisation, it is composed of the geographical series and the industry series.The Hang Seng Stock Classification System
Industry Sectors
Selection Criteria for the HSI Constituent Stocks
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