Shenzhen index covers 500 stocks
Print Edition
SHENZHEN Stock Exchange yesterday expanded the number of constituent stocks in its benchmark index from 40 to 500, ahead of the launch of a stock trading link between the Shenzhen and Hong Kong bourses.
The constituent stocks in the Shenzhen Component Index have a combined market capitalization of 13 trillion yuan (US$2.1 trillion), representing nearly 60 percent of the total of Shenzhen-listed shares, according to a statement posted on the exchange’s website yesterday.
“The expansion has greatly ensured that the Shenzhen Component Index is more representative,” the exchange said.
The index now covers 199 companies listed on the main board, 211 firms on the SME board for small- and medium-sized enterprises and 90 entities on the ChiNext board, with weightings at 48 percent, 35 percent and 17 percent respectively, the statement said.
The adjustment raised the weighting of information and technology-related companies to 20 percent from 14 percent while the weighting of financial and property stocks was reduced to 14 percent from 31 percent. The adjustment was to better represent the industrial structure of companies listed on the Shenzhen bourse, the exchange said.
The move came ahead of the planned program for cross-border stock investment between the Shenzhen and Hong Kong exchanges that is set to kick off in the second half of this year.
UBS Securities said earlier that China is likely to allow overseas investors to trade stocks in the expanded Shenzhen Component Index under the link.
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