China Resources Land to join Hang Seng index

China Resources Land Ltd may join Hong Kong's Hang Seng Index following a quarterly review of the stock gauge, Nomura Holdings Inc said.

COSCO Pacific Ltd, a container-terminal operator, may be removed from the 42-member gauge when Hang Seng Indexes Co announces its decision on Aug 14, the brokerage said. COSCO Pacific's 12-month average market capitalization is ranked 89th among Hong Kong-listed companies, according to Sandy Lee, a Hong Kong-based analyst at Nomura. China Resources is ranked 36th.

"The market cap of COSCO Pacific has gone down so much," Lee said in an interview yesterday. "If it does get removed, they have got to add another stock."