By Yifan Wang


Shares of Tingyi (Cayman Islands) Holding Corp. jumped in Hong Kong on Monday, after the Chinese instant noodle maker won a spot on the benchmark Hang Seng Index.

The stock has gained as much as 7.2% in morning trade, and was last up 5.1% higher at 12.30 Hong Kong dollars (US$1.57). That put the stock on track for its highest close in three months.

The jump came after Hang Seng Indexes Company Ltd. on Friday said it has decided to include Tingyi, known for its instant noodles and bottled beverages in China, in the Hang Seng Index. The change is expected to take effect early next month.

The index operator also added property management services provider China Resources Mixc Lifestyle Services Ltd. and home appliance maker Haier Smart Home Co. in the market benchmark. But shares of these two companies fared worse than Tingyi, potentially due to their heavy business exposure to China's property sector, where sales momentum and investor sentiment remain weak amid the industry's liquidity crisis.

In October, China's food and beverage retail sales, where Tingyi's primary business lies, rose 8.3% and 4.1% respectively, according to the National Bureau of Statistics of China. In contrast, home appliance retail sales dropped 14%, while national commercial property sales fell 26%.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

11-20-22 2223ET