State-controlled property developer China Resources Land (CRL) will be added to Hong Kong’s Hang Seng Index (HSI), Bloomberg reported. The change, which takes effect from March 8, will take the number of HSI member stocks to 43 from 42. In addition, China Minsheng Banking Corp, Metallurgical Corp of China, ZTE Corp and Sinopharm Group will join the Hang Seng China Enterprises Index, which tracks H-shares. Eight stocks will be removed from the gauge. These are Jiangsu Expressway, Harbin Power Equipment, Sinopec Shanghai Petrochemical, Maanshan Iron & Steel, Beijing Capital International Airport, China Communication Services Corp, China Shipping Container Lines and China Molybdenum. Funds that mirror the indexes, including the US$4.9 billion Tracker Fund of Hong Kong, are likely to adjust their holdings ahead of the changes being implemented. Sandy Lee, head of equity quantitative strategies for Asia excluding Japan at Nomura, estimates that CRL’s inclusion in the HSI could attract buying of US$49 million.