Chinese developer CIFI leads Hong Kong Stock Connect program's newcomers higher

GOME Retail Holdings

04/03/2024 07:33

** Shares of CIFI Holdings  0884.HK  lead rise in Hong
Kong-listed Chinese property firms newly joining the
Shenzhen-Hong Kong Stock Connect, soaring as much as 43.3% to
HK$0.48, highest since Sept 27
    ** Stock last up 10.5%; biggest gainer in Hang Seng
Composite Index on properties and construction stocks  .HSCIPC  
    ** Chinese property developers, including CIFI, Shimao
 0813.HK , Evergrande Property Services  6666.HK  are included
in the Shenzhen-Hong Kong Stock Connect program effective March
4, according to a filing from Shenzhen stock exchange
    ** Shimao jumped as much as 28.8% to HK$0.67, highest since
Jan 2, while Evergrande Property Services surged as much as
18.6%  
    ** Among other newcomers to the progam, WuXi XDC  2268.HK 
jumps 22.2%, ZX Inc  9890.HK  surges 10.2%, ZTO Express
 2057.HK  rises 7.1% and China Shineway Pharmaceutical  2877.HK 
adds 3.8% 
    ** Companies being removed include Shangri-La Asia  0069.HK 
GOME Retail  0493.HK , Shimao Services  0873.HK , KWG Group
 1813.HK  and China Huarong Asset Management  2799.HK , sending
stocks down 1.2% and 26.8%  
    ** Hang Seng Mainland Properties Index  .HSMPI  drops 3.2%,
Hang Seng Composite Index on properties and construction stocks
 .HSCIPC  falls 1.3%, and Hang Seng Index  .HSI  slips 0.3%
    
  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))