Shares of Country Garden Holdings Company Limited (HKG:2007) last traded at 11.06, representing a move of -0.18%, or -0.02 per share, on volume of 15.42 million shares. After opening the trading day at 10.9, shares of Country Garden Holdings Company Limited traded in a close range. Country Garden Holdings Company Limited currently has a total float of 21.49B shares and on average sees 35.77M shares exchange hands each day. The stock now has a 52-week low of 7.71 and high of 16.92.
SEHK: A Global Economy Giant
Hong Kong has one of the most successful economies in Asia, making it a powerful asset to the growth of the region. Consequently, Hong Kong is also an economic powerhouse in the world.
The Stock Exchange of Hong Kong (SEHK) is the third biggest stock exchange in Asia and the sixth biggest worldwide. It is a great opportunity for such companies as Country Garden Holdings Company Limited to find their client base there. That being said, it is significant in the fast-paced growth of Hong Kong’s economy.
History of the SEHK
The SEHK was formally founded in 1891 following the establishment of the Association of Stockbrokers in Hong Kong. Today, it is the third biggest stock exchange in Asia next to the Tokyo Stock Exchange (TSE) and the Shanghai Stock Exchange (SSE), respectively.
Pre-market session on the SEHK starts at 9:00 a.m. and ends at 9:30 a.m. Regular morning session begins at 9:30 a.m. and ends at 12:00 n.n. It is extended from 12:00 n.n. until 1:00 p.m. before the regular afternoon session begins at 1:00 p.m. and ends at 4:00 p.m.
The Hang Seng Index (HSI) is the benchmark index that weighs the top 50 stocks on the SEHK based on free-float market capitalization. This represents roughly 60% of the total market capitalization on the SEHK in four sectors: Energy, Financials, Materials, and Utility. These four sectors have been officially established in January 2, 1985.
The Hang Seng Indexes Company, a subsidiary of the Hang Seng Bank (HSB), operates the HSI. Rebalancing of the HSI happens every quarter. Its base date is July 31, 1964 and its base value is 100.
In order to be considered for the inclusion in the HSI, a company must belong to the top 90% of overall market capitalization of market shares and to the top 90% of overall turnover on the SEHK. It is also required that a company must have been listed for at least 24 months on the SEHK. However, a company can already be considered for inclusion after being listed for only three months depending on its market capitalization, liquidity, and overall performance and representation. Perfect liquidity of Country Garden Holdings Company Limited was the main condition of its acceptance.
By the Numbers
The HSI holds an all-time high of 31,638.22, which had been recorded on October 30, 2007; and an all-time low of 58.61, which had been recorded on August 31, 1967. It had first hit the 10,000 mark on December 10, 1993; and the 20,000 mark on December 28, 2006. On October 18, 2007, the HSI had first hit the 30,000 mark.
Eventually, as the 2008 Global Financial Crisis unfold, it had lost about 30% through March 9, 2008. Nearly a year after hitting its all-time high, the HSI had fallen to 15,431.73 on October 8, 2008.
According to CG Watch, a biannual newsletter that ranks Asian economies according to excellence in corporate governance, Hong Kong is one of Asia’s pride. This year, Hong Kong has scored 65 points, ranking second next to Singapore in the coveted list. This is mainly why more and more investors are flocking the SEHK as they anticipate to benefit from the growing national economy. Some investors are very interested in the companies like Country Garden Holdings Company Limited.
More news for Country Garden Holdings Company Limited (HKG:2007) were recently published by: Bloomberg.com, which released: “Hong Kong’s Lost Decade, as Shown by These 12 Global Surveys – Bloomberg” on December 21, 2018. Bloomberg.com‘s article titled: “Record-Breaking Hong Kong Stocks Have Room to Keep Climbing – Bloomberg” and published on January 16, 2018 is yet another important article.
Country Garden Holdings Company Limited, an investment holding company, operates as an integrated property developer in the People’s Republic of China. The company has market cap of $237.71 billion. It operates through five divisions: Property Development; Construction, Fitting and Decoration; Property Investment; Property Management; and Hotel Operation. It has a 7.51 P/E ratio. The firm develops residential projects, such as townhouses and condos; and car-parks and retail shops.
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