China Netcom to be removed from Hong Kong's Hang Seng index on Oct 6

Mon. September 29, 2008; Posted: 10:58 PM

HONG KONG, Sep 30, 2008 (XFN-ASIA via COMTEX) -- CHU | Quote | Chart | News | PowerRating -- China Netcom will be removed from Hong Kong's benchmark Hang Seng Index after the market close on Oct 6, instead of Oct 15 as previously announced, Hang Seng Indexes Co said.

Netcom, a fixed-line phone company, is due to be absorbed into wireless operator China Unicom as part of the government-guided restructuring of the mainland telecom industry.

Hang Seng Indexes said the speeded up timetable is to facilitate rebalancing activities by market participants and smooth out the impact of the change on portfolios that track the Hang Seng family of indexes.

China Unicom will remain a constituent of the Hang Seng index.

roby.lau@xfn.com

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For full details on China Unicom Limited ADS (CHU) click here. China Unicom Limited ADS (CHU) has Short Term PowerRatings of 4. Details on China Unicom Limited ADS (CHU) Short Term PowerRatings is available at This Link.

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