Country Garden Holdings to be delisted from Hang Seng Index

Chinese property company Country Garden Holdings is being removed from Hong Kong’s Hang Seng Index. Chinese property company Country Garden Holdings will be removed from Hong Kong’s Hang Seng Index. Pharmaceutical firm Sinopharm will be added in its place. Country Garden Services Holdings, a property management firm and affiliate of Country Garden, will also be removed from the Hang Seng China Enterprises Index. Shares in Country Garden have fallen more than 70 percent since the start of the year, hitting record highs after the company defaulted on bond coupon payments, issued a profit warning and suspended trading on 11 of its onshore bonds.