Chinese real estate company Country Garden Holdings is set to be removed from Hong Kong’s Hang Seng Index.
- Shares of the firm are down around 70% since the beginning of this year amidst failed bond coupon payments, a profit warning and suspended trading in 11 of its onshore bonds.
- The removal will take place after the latest quarterly review on the Index.
- Pharmaceutical firm Sinopharm will be added in its place.
Country Garden Services Holdings, a Country Garden affiliate, will also be removed from the Hang Seng China Enterprises Index.