HSI Services, which compiles the benchmark Hang Seng Index, yesterday unveiled details of its two new indices - the Hang Seng 100 Index and the New Hang Seng MidCap 50 Index - due to be launched on April 20.
The new indices, first announced in December, will track the stock performance of listed companies with middle to large market capitalisations.
HSI Services chairman Anthony Wong Kin-kwan said: 'We believe the Hang Seng family of indices, which will include seven in total after the launch of these two, will meet the different criteria of investors.' Mr Wong said the Hang Seng 100 would include the 100 top companies in terms of capitalisation over a 12-month period, and the highest aggregate turnover over 24 months.
To qualify as a constituent, the stock should not have had more than 20 trading days without turnover during the past 12 months, not including days when it was suspended.
The Hang Seng 100 will be launched with a base value of 100 set on January 2 this year.
Mr Wong said although the new index was broader than the existing 33-stock Hang Seng Index, it would not replace the HSI as the benchmark for the whole market.