STOXX celebrates major milestone and launches China index
05 March 2013
News, Asia, China, Global, Hong Kong
By David Macfarlane
Index provider STOXX Limited celebrated its 15th anniversary on February 28 and unveiled the STOXX China A 50 Index in Hong Kong, a blue-chip index that comprises the 50 largest Chinese A-Shares and follows STOXX’s established blue-chip index methodology.
“The launch of the STOXX China A 50 Index at our anniversary celebration in Hong Kong underscores the importance of the Asian region for STOXX. Our new index is geared towards market participants who expect high prosperity levels in the Year of the Water Snake, and want to participate in the performance of China’s largest 50 A-shares,” said Hartmut Graf, chief executive officer, STOXX Limited.
The new STOXX China A 50 Index is derived from the STOXX China A Total Market Index, which covers approximately 95% of the free float market capitalisation of the investable stock universe of Chinese A-Shares, which are traded in domestic currency at the Shanghai and Shenzhen Stock Exchanges and are reserved for domestic enterprises and individuals, as well as qualified foreign institutional investors (QFIIs). All companies in the parent index are sorted by free-float adjusted market capitalisation and the 50 largest are selected for inclusion in the blue-chip index.
The STOXX China A 50 Index is reviewed annually in September and rebalanced quarterly. The index is available in euro, US dollar, HK dollar and Chinese renminbi.
The first pan-European, STOXX-branded indices were launched on February 26, 1998. They were introduced in advance of the introduction of the euro to provide market participants with transparent and strictly rules-based indices for Europe. The EURO STOXX 50 was the first index to measure the performance of the eurozone. In the past 15 years, STOXX has developed from being the leading European index provider to becoming a global firm well-known for its innovative range of strategy indices. The company is part of Deutsche Börse and SIX, and is also the marketing agent for the DAX and SMI indices.
“STOXX has always been a company of visionary innovation, from the launch of the EURO STOXX 50 Index in 1998 to the global expansion of our index family and re-branding in 2011. Today, we are still as dedicated as we were 15 years ago to developing neutral, strictly rules-based and transparent indices that meet the high standards our clients know and expect from us,” said Mr. Graf.
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