Hang Seng Index adds major Chinese chipmaker as tech pivot continues
Hong Kong’s bellwether stock index has added two new companies including contract chipmaker Hua Hong Grace Semiconductor
Two new companies will be soon be added to the Hang Seng Index (HSI), increasing the constituents of Hong Kong’s bellwether stock index from 93 to 95, according to a statement from the Hang Seng Indexes Company released on Friday.
The new entrants are Hua Hong Grace Semiconductor, one of China’s top contract chipmakers, and truck and engine maker Weichai Power. The change would take effect on September 7, the statement said.
The addition of Hua Hong Grace will further increase the information technology sector’s weighting in the index from 15.86 per cent to 17.11 per cent. Meanwhile, the energy, materials, industrials and conglomerates category will see its weight rise from 10.87 per cent to 11.12 per cent after Weichai Power joins.