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Lenovo Gets Dropped From Hong Kong Benchmark

Removal from the index is likely to spur more outflows from the stock

Lenovo Group Ltd. will be replaced as a member of the Hang Seng Index by CSPC Pharmaceutical Group Ltd. as part of a re-balancing effective June 4, the index compiler said in a statement on Friday. Lenovo’s stock fell as much as 4.3 percent during trading Monday in Hong Kong, while CSPC Pharma’s stock gained as much as 9.4 percent. Removal from the gauge could spur more outflows from the personal computer maker, as at least $107 billion worth of passive funds track the Hang Seng Index, according to data compiled by Bloomberg.

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