Hang Seng Index

Established in 1969, the Hang Seng Index is the benchmark stock market index, monitoring changes in 48 constituent blue chip stocks. It is maintained by Hang Seng Indexes Company, a unit of Hang Seng Bank, which is controlled by HSBC Group.

FIRST Pacific Co

PUBLISHED : Sunday, 23 November, 1997, 12:00am
UPDATED : Sunday, 23 November, 1997, 12:00am
 

FIRST Pacific Co is a regional conglomerate with interests ranging from banking to telecommunications.


This time last year, brokerage MeesPierson placed a buy on the stock, saying earnings from the group's telecommunications division would rise over the next three years.


This advice went awry as the stock was hammered by competition in telecoms and exposure to Southeast Asian economies.


Twelve months ago, First Pacific shares traded at $10.50. Now they are worth $5.40, having lagged the Hang Seng Index by 34.2 per cent.


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