Gome Electrical Appliances Holdings Ltd, the Chinese electronics retailer whose chairman is being investigated for alleged economic crimes, will be removed from the Hang Seng Composite Index due to its prolonged suspension from stock trading in Hong Kong.
Harbin Power Equipment Co will be added to the measure, as well as to the Hang Seng China Enterprises Index, Hang Seng Indexes Co, the compiler of the city's indexes, said in an e-mailed statement yesterday. Gome has been suspended since November 24. Harbin Power is a Chinese maker of electricity-generation equipment. The changes will take effect on January 5, according to the statement.
(Shanghai Daily December 25, 2008)