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50-611: China Merchants Port Holdings Company Limited ( SEHK :  144 ) is a major conglomerate based in Hong Kong and is involved in a range of businesses such as port operations, general and bulk cargo transportation, container and shipping business, air cargo, logistics park operations and paint products. China Merchants Port is considered as a Red Chip company as the Hong Kong Stock Exchange listing. The company has port facilities in mainland China and Hong Kong , and

100-691: A US$ 1.3 billion agreement for the Hambantota port project in 2007, with financing from China Exim Bank and China Merchants Port, while China Harbour Engineering Corporation (CHEC) is responsible for the construction of the port. With the Port of Hambantota's expansion, China Merchants Port Holdings has become the major shareholder of the Hambantota Port. Sirisena, a member of the Parliament of Sri Lanka, negotiates with China Merchants Port and sells

150-1257: A company: Guidelines for Handling Large-cap Stocks Listed for Less than 24 Months For a newly listed large-cap stock, the minimum listing time required for inclusion in the stock universe for the HSI review is as follows: Among the eligible candidates, final selections are based on their: The current Hang Seng Index is calculated from this formula: Current~Index = ∑ [ P(t) × IS × FAF × CF ] ∑ [ P(t-1) × IS × FAF × CF ] × Yesterday's~Closing~Index . {\displaystyle {\textrm {Current~Index}}={\frac {\sum {\textrm {[}}{\textrm {P(t)}}\times {\textrm {IS}}\times {\textrm {FAF}}\times {\textrm {CF}}{\textrm {]}}}{\sum {\textrm {[}}{\textrm {P(t-1)}}\times {\textrm {IS}}\times {\textrm {FAF}}\times {\textrm {CF}}{\textrm {]}}}}\times {\textrm {Yesterday's~Closing~Index}}.} Descriptions on parameters: Investors in Asian markets monitor

200-577: A computer-assisted trading system on 2 April 1986. In 1993 the exchange launched the "Automatic Order Matching and Execution System" (AMS), which was replaced by the third generation system (AMS/3) in October 2000. David Webb , independent non-executive director of the Exchange since 2003, has been arguing for a super regulatory authority to assume that role as regulator, as there is an inherent conflict between its commercial and regulatory roles. In

250-401: A ninety-minute lunch break, and an afternoon session from 1:30 pm to 4:00 pm. Index futures and options now began trading at 9:15 am, thirty minutes earlier than before, and closed at the same time as before, 4:15 pm. On 5 March 2012, the lunch break was cut to sixty minutes, with the afternoon session running from 1:00 pm to 4:00 pm. The exchange first introduced

300-406: A pre-opening auction from 9:30 am to 9:50 am, followed by continuous trading from 10:00 am to 12:30 pm and 2:30 pm to 4:00 pm. The two-hour lunch break between the morning and afternoon sessions was the longest among the world's 20 major stock exchanges . A 2003 proposal to shorten the lunch break failed due to opposition from brokers. Another plan to shorten the lunch break to one hour was floated by

350-607: A public company, is controlled by another listed international financial institution HSBC Holdings plc . Both HSBC Holdings and Hang Seng are constituents of the index. Ho Sin Hang , chairman of the Hang Seng Bank, conceived the idea of creating the Hang Seng Index as a " Dow Jones Index for Hong Kong". Along with Hang Seng Director Lee Quo-wei , he commissioned Hang Seng's head of Research Stanley Kwan to create

400-1124: A result, the Securities and Futures Commission (SFC) was set up in 1989 as the single statutory securities market regulator. The market infrastructure was much improved with the introduction by the exchange of the Central Clearing and Settlement System (CCASS) in June 1992 and the Automatic Order Matching and Execution System (AMS) in November 1993. Since then, the framework of market rules and regulations, both exchange-administered or otherwise, have been undergoing continuing review and revision to meet changing market needs while ensuring effective market regulation. The Exchange Listing Rules have been made more comprehensive, and other existing regulations have been improved or new regulations introduced to enhance market development and investor protection. Enhancements were also made to

450-478: A stock's Industry Sector will occur once the company's business has undergone a major change, such as, substantial merger or acquisition . Industry sectors: Source of information The classification of each stock is based on the information available to the public, for example the annual reports and company announcements. HSI constituent stocks are selected with the use of extensive analysis, together with external consultation. To be qualified for selection,

500-402: Is 223. China Merchants Port has operations in 25 countries, with a network of 41 ports by 2020, including Sri Lanka's Colombo International Container Terminal Limited and Togo's Lomé Container Terminal S.A. The parent company, China Merchants Group, achieved sales of CNY 649.9 billion in 2019. In 2020, the company had total revenue of US$ 1,147,838,440, with the port business accounting for 93% of

550-548: Is a stock exchange based in Hong Kong . It is one of the largest stock exchanges in Asia and the 9th largest globally by market capitalization as of August 2024. The exchange plays a crucial role in connecting international investors with mainland Chinese companies, serving as a major platform for capital raising. Unlike mainland Chinese exchanges , it operates under Hong Kong’s distinct regulatory framework, which allows greater access to foreign investors. The stock exchange

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600-645: Is a wholly owned subsidiary of Hang Seng Bank , one of the largest banks registered and listed in Hong Kong in terms of market capitalisation. It is responsible for compiling, publishing and managing the Hang Seng Index and a range of other stock indexes, such as Hang Seng China Enterprises Index , Hang Seng China AH Index Series , Hang Seng China H-Financials Index , Hang Seng Composite Index Series , Hang Seng China A Industry Top Index , Hang Seng Corporate Sustainability Index Series and Hang Seng Total Return Index Series . Hang Seng in turn, despite being

650-519: Is one of three Chinese enterprises named among the top 10 terminal operators in the world; the other two are Hutchison Port Holdings and COSCO Shipping Ports . In the 2018 Lloyd's list of the top 10 global port operators, China Merchants Port was ranked fifth, as of 2018, they have a network of 34 ports in 18 countries around the world, such as Houston in the US and Newcastle in Australia. The majority of

700-401: Is owned (through its subsidiary Stock Exchange of Hong Kong Limited ) by Hong Kong Exchanges and Clearing Limited (HKEX), a holding company that it also lists ( SEHK :  388 ) and that in 2021 became the world's largest bourse operator in terms of market capitalization , surpassing Chicago-based CME . A 2021 poll reported that approximately 57% of Hong Kong adults had money invested in

750-579: Is traded as a future on the Hong Kong Futures Exchange (HKFE). The full contract specifications are below: The following table shows the annual development of the Hang Seng Index, which was calculated from 1964. On January 2, 1985, four sub-indices were established in order to make the index clearer and to classify constituent stocks into four distinct sectors. There are 82 HSI constituent stocks in total. As of February 2024 they are: The Hang Seng Composite Index Series (恒生綜合指數)

800-458: The 20,000 point milestone again to 20,063.93 on 24 July 2009. The index reached 25,000.00 on August 19, 2014, reaching as high as 25,201.21 that day, later closing at 24,909.26 points. It continued rising to hit 26,000 on April 8, 2015, with a close of 26,236.86 The following day, it rose to as much as 27,922.67 before closing at 26,944.39. Yet again, another milestone was reached on April 13, 2015, rising to over 28,000 points, or closing to 28,016.34,

850-861: The Latin America region. Besides, the company also engaged with the Sikan Island Container Terminal located in Nigeria, the Multipurpose Port of Doraleh located in Djibouti, Colombo International Container Terminal Limited and the Hambantota Port project in Sri Lanka in relation to China's Belt and Road Initiative. The company is also helping to fund a US$ 10 billion Tanzanian port in Bagamoyo, Tanzania, promoted by

900-663: The Middle East. The company has acquired 49% stake in Terminal Link, the combination of Compagnie Maritime d'Affrètement (CMA) and Compagnie Générale Maritime (CGM), as well as the purchase of 90% stock in TCP Participações SA, A, the second largest container terminal in Brazil with a design capacity of 1.5 million TEU, for US$ 923.7 million. This acquisition in 2017 allowed the company to expand its presence in

950-582: The Tanzanian government. Eurofos Terminal is a container terminal in Fos-sur-Mer, France. China Merchants Port acquired a 49% “advantageous stake” in Terminal Link in 2013, which is the subsidiary of CMA CGM, the name of two predecessor companies combined, Compagnie Maritime d'Affrètement (CMA) and Compagnie Générale Maritime (CGM), the world's third-largest container shipping company in France. Meanwhile,

1000-768: The acquisition from Terminal Link made China Merchants port obtain an approximate 25% share from the only Chinese invested French Mediterranean port in France, the Eurofos terminal in Marseille. Malta Freeport Terminal is a transit hub located in the heart of the Mediterranean. After the Malta Freeport in Marsaxlokk, Malta's container port was franchised to the French shipping company, CMA CGM, at least until

1050-420: The biggest foreign investment by China Merchants Port. The company has approximately 130 berths for loading and unloading at wharves and piers worldwide, with a capacity of 60 million containers. It controls more than 30% of the berths in mainland China. The company operates through its port operations, bonded logistics business and other businesses. These include container terminal operations, break-bulk terminals,

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1100-402: The coastal hub ports of Hong Kong, Shanghai , Qingdao and Xiamen Bay. Besides the operations in Hong Kong and Mainland China, it also operates overseas. Its investments are concentrated in developing countries such as Nigeria and among other African countries, as well as the countries among South Asia, especially in Sri Lanka, the port of Hambantota that located in southern Sri Lanka is one of

1150-569: The company adopted the title China Merchants Holdings (International) Company Limited ( 招商局國際有限公司 ). On 15 July 1997, the company was listed in the Hong Kong Stock Exchange . On 10 August 2016, the company adopted its current title. China Merchants Port's predecessor was founded in Hong Kong on 28 May 1991, and changed to its present name in 1997. Port facilities are located in Hong Kong and Mainland China, such as Shanghai , Tianjin and Qingdao . However, China Merchants Port

1200-436: The company's major managers, specifying each person's full name and their roles. In the quarterly review of Hang Seng Index composition ended on Jun 29 2018, it was announced by Hang Seng Indexes Company that China Merchants Port will be removed from constituent stocks from Sep 10, 2018, and replaced by another. The decision to remove China Merchants Port was due to its turnover volume and market capitalisation failed to meet

1250-491: The company's revenue and the bonded logistics and other operations accounting for the rest. In February 2018, the company completed the sale of its indirectly owned unit, Shenzhen Chiwan Wharf Holdings Limited, which provides logistics, container terminal and port management services and has interests in operations in general and bulk cargo terminals businesses. The expected net proceeds from the sale are HK$ 3.88 billion (US$ 496.3 million). Source: Table 1 provides information on

1300-533: The exchange also implemented a closing auction session to run from 4:00 pm to 4:10 pm, with a similar pricing mechanism as the opening auction; however, this resulted in significant fluctuations in the closing prices of stocks and suspicions of market manipulation . Initially, the exchange proposed limiting price fluctuations in the auction sessions to 2%; in the end, they removed the closing session entirely in March 2009. Up until 2011, trading hours comprised

1350-495: The exchange in 2010; the morning session would then start earlier, run from 9:30 am to 12:00 pm, and the afternoon session from 1:00 pm to 4:00 pm, leaving the closing time the same as before. Justifications included bringing hours into line with China. Reactions from both brokers and the restaurant industry were mixed. On 7 March 2011, the exchange extended its hours in the first of two phases. The morning session now ran from 9:30 am to 12:00 noon, followed by

1400-439: The formation of a unified stock exchange. The Stock Exchange of Hong Kong Limited was incorporated in 1980 and trading on the exchange finally commenced on 2 April 1986. Since 1986, a number of major developments have taken place. The 1987 market crash revealed flaws in the market and led to calls for a complete reform of the Hong Kong securities industry. This led to significant regulatory changes and infrastructural developments. As

1450-458: The government's majority stake in the terminal company. They signed an agreement with The Sri Lanka Port Authority in 2017 in which China Merchants Port leased the Port of Hambantota for operation for 99 years. At the same time, China Merchants Port purchase a 70% stake of the Hambantota Port from Sri Lankan government for $ 1.1 billion in July 2017, including the 42-hectares artificial island located at

1500-541: The highest since December 2007. On July 8, 2015, the index fell as much as 2139 points. On 21 August the index entered a bear market . The index at that point hovered around 18000-19000 points, until it ended in February 2016. On 24 June 2016, the market fell 1,000 points in response to UK EU referendum results that "Leave" won the vote against "Remain". Then, the markets continuously fell on 27 and 28 June 2016 before recovered slightly on 29 June 2016. The Hang Seng Index

1550-422: The index in 1964, the index was initially used for internal reference in the Hang Seng Bank, they debuted the index on November 24, 1969. When the Hang Seng Index was first published, its base of 100 points was set equivalent to the stocks' total value as of the market close on July 31, 1964. Its all-time low is 58.61 points, reached retroactively on August 31, 1967, after the base value was established but before

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1600-447: The index lost 9,426 points or approximately 30%. On September 5, it fell past the 20,000 mark the first time in almost a year to a low of 19,708.39, later closing at 19,933.28. On October 8, 2008, the index closed at 15,431.73, over 50% less than the all-time high and the lowest closing value in over two years. On October 27, 2008, the index further fell to 10,676.29 points, having fallen nearly two-thirds from its all-time peak, but passed

1650-425: The indexes, including constituent changes and the development of new indexes. Hang Seng Industry Classification System (formerly called Hang Seng Stock Classification System) is a comprehensive system designed for the Hong Kong stock market by Hang Seng Indexes Company Limited. It reflects the stock performance in different sectors. It caters for the unique characteristics of the Hong Kong stock market and maintains

1700-529: The international compatibility with a mapping to international industry classification General classification guidelines: i) The sales revenue arising from each business area of a company is the primary parameter of stock classification. Profit or assets will also be taken into consideration where these better reflects the company's business. ii) A company will be classified into different sectors according to its majority source of sales revenue(or profit or assets if relevant). iii) Re-classification of

1750-631: The listing of the first China-incorporated enterprise (H share) in June 1993 ( Tsingtao Brewery ); and the introduction of regulated short selling in January 1994 and stock options in September 1995. Furthermore, the exchange introduced the Growth Enterprise Market (GEM) in November 1999 to provide fundraising opportunities for growth companies of all sizes from all industries, and to promote the development of technology industries in

1800-402: The meantime, he argues for improved investor representation on the Hong Kong Stock Exchange. In 2007, the uproar by smaller local stockbrokers over the decision by board of directors to cut minimum trading spreads for equities and warrants trading at between 25 HK cents and HK$ 2 caused the new board to vote to reverse the decision. The reforms were to be implemented in the first quarter, but

1850-441: The minimum requirements. China Merchants Port invested in 6 terminals in 2005 and increased to 18 by the end of 2017. However, 2009 is the year they start to make overseas investments. As part of China's "Maritime Silk Road" plan, the company has increased its overseas port facility upgrades in recent years. The sea routes, proposed by Chinese Communist Party leader Xi Jinping , aim to connect China to Europe via Southeast Asia and

1900-412: The new container terminal has launched there. This is one of the largest foreign investments in the country, with a total value of more than US$ 500 million. The Hambantota International Port is a port in southern Sri Lanka, is located a few hundred kilometres off the coast of India, on a vital economic and military waterway. Construction and investment in the port have come from China, which first signed

1950-585: The operation of logistics parks operated by China Merchants Ports and its associates, including port transportation and airport cargo handling, as well as property development and investment, including the construction of modular buildings and the provision of container terminal services. In addition, China Merchants Port is involved in port development and berth operations, as well as tugboat berthing assistance and barge services when ships arrive in port, cargo handling during loading and unloading, and providing ships with shore power and fresh water. China Merchants Port

2000-707: The port opening. This new equity from China Merchants Port increased Sri Lanka's foreign exchange reserves and facilitated Sri Lanka's repayment of its debts to non-Chinese creditors. TCP Participações SA is a container terminal in Brazil. A quarter of the company's containerised exports and imports depart or arrive in China. In 2017, China Merchants Port agreed to purchase 90% stock in TCP Participações SA for US$ 935 million and increase its annual container throughput “from 1.5 million TEUs to 2.5 million TEUs”. Hong Kong Stock Exchange The Stock Exchange of Hong Kong (香港交易所, SEHK , also known as Hong Kong Stock Exchange )

2050-428: The predecessor was founded in 1991. The predecessor of the parent company was established in 1872 and was the preeminent industrial and commercial group in mainland China. Before changing its name to China Merchants Port Holdings Company Limited, the company was formerly known as China Merchants Holdings (International) Company Limited. On 28 May 1991, the company's predecessor was founded in Hong Kong. On 16 June 1997,

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2100-417: The publication of the index. The Hang Seng passed the 10,000 point milestone for the first time in its history on December 10, 1993, and, 13 years later, passed the 20,000 point milestone on December 28, 2006. In less than 10 months, it passed the 30,000 point milestone on October 18, 2007. Its all-time high, set on January 26, 2018, was 33,223.58 points at closing. From October 30, 2007, through March 9, 2008,

2150-480: The region. According to the reform plan announced in March 1999, the Exchange, the Hong Kong Futures Exchange and their clearinghouses merged into a new holding company, the Hong Kong Exchanges and Clearing Limited . source: HK Ex The trading day consists of: The closing price is reported as the median of five price snapshots taken from 3:59 to 4:00 pm every 15 seconds. In May 2008,

2200-501: The shareholders in China Merchants Port are insiders. The insiders held 65.26% of the shares in the company, as the largest shareholder of the company is China Merchants Group, its parent company, accounting for 43% of the total shares, while China Merchants Technology Holdings Co. Ltd. accounting for 21.9% of the shares. Institutions held 27.87% of the float and 9.68% of the shares. The number of Institutions holding shares

2250-483: The stock market. The physical trading floor at Exchange Square was closed in October 2017. The Hong Kong securities market can be traced back to 1866, but the stock market was formally set up in 1891, when the Association of Stockbrokers in Hong Kong was established. It was renamed as The Hong Kong Stock Exchange in 1914. By 1972, Hong Kong had four stock exchanges in operation. There were subsequent calls for

2300-401: The system infrastructure, including the launch of off-floor trading terminals in brokers' offices in January 1996. The third generation of the trading system, AMS/3, was launched in 2000. It provides enhanced functionality and a platform for a straight-through transaction process. In respect of market and product development, there is the listing of the first derivative warrant in February 1988,

2350-559: The year 2038. When China Merchants Ports acquired a 49% stake in Terminal Link in 2013, it then obtained an approximate 25% stake in Malta Freeport Terminal while CMA CGM held the rest of the shares (51%). The Port of Colombo is the largest port located in the southwestern shores on the Kelani River of Sri Lanka. China Merchants Port has held a groundbreaking ceremony at the Port of Colombo in Sri Lanka in 2014 as

2400-522: Was launched on October 3, 2001, targeting on providing a broad standard of the performance of the Hong Kong stock market. It was last revamped on March 8, 2010, and comprises 307 constituents (will become 306 from August 9, 2010 ). The market capitalisation of these companies accounts for about 95% of the total capitalisation of the stocks in Hong Kong. To ensure the impartiality of its operation, Hang Seng Indexes Company Limited established an Independent Advisory Committee to give advice on issues pertaining to

2450-480: Was put back on the table following protests by brokers. Webb criticised the board for caving in to vested interests. Source: HKEX, in billions of Hong Kong dollars, Data updated on 14 February 2018 22°17′03″N 114°09′28″E  /  22.28414°N 114.15768°E  / 22.28414; 114.15768 Hang Seng Index HSI was publicized on November 24, 1969, and is currently compiled and maintained by Hang Seng Indexes Company Limited , which

2500-670: Was truly founded in 1872 as the first merchant company of the Qing dynasty and has experienced a history that stretches from the Republic of China to the official establishment of the People's Republic of China. Port facilities are located in Hong Kong and Mainland China. Its national port network is spread across the Pearl River Delta, Bohai Economic Zone, Xiamen Bay Economic Zone, Yangtze River Delta and Southwest China. This includes

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