Pop Mart once hits record high on FTSE China 50 inclusion

Fashionable toy Labubu maker Pop Mart (9992) once hit a new record high on Thursday as it will be included in the FTSE China 50 Index.

But the gains were wiped out and stood 1.7 percent lower at HK$241.6 apiece

FTSE Russell announced its latest quarterly index review on Wednesday, saying it will add toy maker Pop Mart and logistics giant SF Holding (6936) to the FTSE China 50 Index, while removing China Merchants Securities (6099) and China Railway (0390).

The index tracks the 50 largest and most liquid Chinese companies listed in Hong Kong.

The changes will take effect after the market close on June 20 and become effective at the open on June 23, the index provider said.

STAFF REPORTER