|
Dow Jones adjusts stocks in Chinese market
(peopledaily.com.cn)
Updated: 2004-04-01 16:19
The Index section of the Dow Jones & Company declared March 31 that it
would adjust Dow Jones China 88 Index, Dow Jones China Index, Dow Jones Shanghai
Index and Dow Jones Shenzhen Index. This adjustment takes effect on April 1,
2004.
This adjustment excludes 6 constituent stocks from and includes another six
into its Dow-China 88 which traces the biggest 88 stocks with the most liquidity
in Shenzhen and Shanghai Stock Exchanges. Due to this arrangement, the market
capitalization of the constituent stocks in the Index now accounts for 31.71
percent of the total the free float market value of Shenzhen and Shanghai
markets. The adjustment has the stocks traded in Shanghai market reduced to 57
from 60 while stocks trade in Shenzhen increased to 31 from 28. In terms of the
free float capitalization of the constituent stocks in the Dow Jones China 88,
stocks in Shanghai market is 68.6 percent while Shenzhen makes up 31.4 percent.
From the same date, constituent stocks in Dow Jones China Index will rise to
1033 from 985. Among them, 970 are A-shares and 63 are B-shares. The constituent
stocks in Dow-Shanghai will grow to 626 from 607 after 42 stocks are added and
23 are removed. The constituent stocks in Dow-Shenzhen will increase to 407 from
378 after an extra 38 stocks are added and 9 are reduced. The float market
capitalization of the three major market indices (Dow Jones China 88, Dow Jones
Shenzhen and Dow Jones Shanghai) in the Dow Jones China family will cover 95
percent of that of the Shenzhen and Shanghai markets after the
adjustment.
|
