New index tracks 500 stocks
By Winny Wang |
January 5, 2010, Tuesday
|
Print Edition
Print Edition
CHINA will launch an index tracking stocks on the Chinese mainland, Hong Kong and Taiwan on January 18 as it accelerates the introduction of index-based investment products, such as exchange-traded funds based on overseas equity indices.
The CSI Cross-Straits 500 Index will choose 500 stocks as samples - 300 stocks on the CSI300 Index, 100 stocks on CSI Hong Kong 100 Index and 100 stocks on the Taiwan Stock Exchange, China Securities Index Co said in a statement on its Website yesterday.
The market value of the 500 stocks totaled 32 trillion yuan (US$4.69 trillion), accounting for about 75 percent of the total market value in these markets. Turnover accounted for 53 percent.
The company will change at most 10 percent of the sample stocks every six months.
The index is a basic tool to develop index-based investment products and derivatives, and some institutions are preparing to develop ETFs, which will enable investors to buy or sell shares in an entire benchmark portfolio, according to CSI, a joint venture between the Shanghai and Shenzhen bourses.
The index is set at 1,000 points on the base date of December 31, 2004. As of the end of last year, it had climbed 46.2 percent from the base date to 1,462 points.
The CSI Cross-Straits 500 Index will choose 500 stocks as samples - 300 stocks on the CSI300 Index, 100 stocks on CSI Hong Kong 100 Index and 100 stocks on the Taiwan Stock Exchange, China Securities Index Co said in a statement on its Website yesterday.
The market value of the 500 stocks totaled 32 trillion yuan (US$4.69 trillion), accounting for about 75 percent of the total market value in these markets. Turnover accounted for 53 percent.
The company will change at most 10 percent of the sample stocks every six months.
The index is a basic tool to develop index-based investment products and derivatives, and some institutions are preparing to develop ETFs, which will enable investors to buy or sell shares in an entire benchmark portfolio, according to CSI, a joint venture between the Shanghai and Shenzhen bourses.
The index is set at 1,000 points on the base date of December 31, 2004. As of the end of last year, it had climbed 46.2 percent from the base date to 1,462 points.
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