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BEA Falls Most in Three Years After Cut From Hang Seng Index

Bank of East Asia Ltd. slumped the most since July 2015 following news it will be cut from Hong Kong’s Hang Seng Index along with China Merchants Port Holdings Co., which also tumbled.

BEA closed down 5.8 percent Monday, making it the worst performer on the Hong Kong benchmark, even after paring some earlier losses. China Merchants Port was the third-worst, dropping the most since February. The two stocks will be removed from the index on Sept. 10 and replaced by Sino Biopharmaceutical Ltd. and textiles manufacturer Shenzhou International Group Holdings Ltd.