Hang Seng Compiler Defends Creation of Hong Kong Quota
- Stock benchmark will include a quota of Hong Kong firms
- Stock index undergoing biggest overhaul in 51-year history
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The compiler of the Hang Seng Index defended its decision to create a quota for Hong Kong firms in the latest overhaul, saying maintaining a local presence in the city’s most widely followed stock index will continue to be important.
“We are in Hong Kong and we are talking about the Hong Kong stock market,” Anita Mo, chief executive officer of Hang Seng Indexes Co. said in a Bloomberg Television interview. “In the Hang Seng Index, we need to preserve the elements for Hong Kong.”