New Sports Group Limited (0299) Declines -4.11% on Mar 15

March 15, 2018 - By reb123z

Shares of New Sports Group Limited (HKG:0299) last traded at 0.7, representing a move of -4.11%, or -0.03 per share, on volume of 810,000 shares. After opening the trading day at 0.72, shares of New Sports Group Limited traded in a close range. New Sports Group Limited currently has a total float of 2.04B shares and on average sees 1.57 million shares exchange hands each day. The stock now has a 52-week low of 0.52 and high of 1.78.

Hang Seng Index: Driving Hong Kong Economy

Hang Seng Index (HSI) is the primary index of equities listed on the Stock Exchange of Hong Kong (SEHK). The index is market capitalization-weighted and float adjusted. As such, it records and monitors the changes of the largest Hong Kong companies. For investors HSI is the main indictor of the performance of Hong Kong stocks. Stocks of New Sports Group Limited company can also be found in HSI.

As a free float adjusted index, HSI excludes restricted shares held by company insiders and other strategic investors such as government and venture capitalists because these holdings tend to be inactive. Instead, HSI tracks the performance of stocks freely available for trade.

HSI has 50 constitutes whose combined market cap equates to about 60% of all stocks listed on SEHK. Experts check all stocks from New Sports Group Limited. The components of the index are classified under four sectors, sometimes called sub-indexes, for clarity. Sectors in the index include Energy, Material, Utilities and Financials. Energy is the largest sector in the index.

Eligibility for inclusion in HSI

Candidate stock for inclusion in the index must belong to the group of stocks that make top 90% of total market value of common shares. Additionally, the stock must belong to the group that comprises 90% of the total turnover on SEHK.

Though HSI requires that a company should have a listing history of at least 24 months before it can be considered for inclusion in the benchmark index, there are exceptions. For instance, a new stock can be added to the index after only three months if it meets certain strict requirements. Financial performance, stock liquidity and representation of sectors also determine whether or not a stock can be added to the index. Liquidity of New Sports Group Limited allows it to be a part of HIS.

HSI is rebalanced quarterly where constituents that fall short of the listing requirements are dropped and eligible constitutes are added. The index is also updated to take care of rights issue, which usually impacts the market capitalization of its components.

The index is operated by a unit of Hang Seng Bank called Hang Seng Indexes Company. Hang Seng Bank is a publicly traded company on SEHK and it is one of the largest by market cap.

HSI was first published on November 24, 1969. However, the index was established years earlier with a base value of 100 points, representing the total value of Hong Kong stocks as of close of market on July 31, 1964. The index sank to its lifetime low of 58.61 points in August 1967. HSI hit the 10,000-point milestone for the first time in December 1993 and notched the 20,000-point milestone in December 2006. The index reached a lifetime high of 31638.22 points in October 2007.

Investor appetite for Hong Kong stocks

Investing in Hong Kong stocks has become hot lately amid an influx of retail investors betting bet on Hong Kong’s bright growth prospects. High corporate governance standards and a rapidly expanding affluent population are two other reasons Hong Kong stocks appeal to a growing number of domestic and international investors. As per CG Watch, a bi-annual report, Hong Kong ranked second with 65 points out of possible 100 points among 12 Asian markets in 2016 corporate governance survey. But Hong Kong ranked first in the last CG Watch report published in 2014. Investors may find reports on New Sports Group Limited interested to their attention. Singapore topped the list with 67 points in corporate governance survey for 2016.

More notable recent New Sports Group Limited (HKG:0299) news were published by: which released: “Old PSG Wind-down Ltd. (formerly, Performance Sports Group Ltd.) Announces New …” on August 07, 2017, also with their article: “Porter Wright launching new sports law practice to advise athletes” published on June 13, 2017, published: “Lexus Is Going Into the High-End Boat Business” on March 13, 2018. More interesting news about New Sports Group Limited (HKG:0299) were released by: and their article: “What we know about CBS’s upcoming streaming service for sports” published on August 08, 2017 as well as‘s news article titled: “Old PSG Wind-down Ltd. (formerly, Performance Sports Group Ltd.) Announces …” with publication date: December 21, 2017.

New Sports Group Limited, an investment holding company, provides outsourcing software development and technical support services in the People's Republic of China. The company has market cap of $1.43 billion. It operates through Software Development; Provision of Online Game Services and Platform Services; Yacht Club; Education; and Football Club divisions. It currently has negative earnings. The firm also designs, develops, and operates mobile and Web games, as well as platform services; operates a yacht and football club; and provides international education services.

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