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Dow Jones, First Finance to launch index in China
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| Time:
2004-7-28 20:21:13
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SHANGHAI, July 27(Xinhuanet)-- Dow Jones and First Finance MediaCo.(FFMC) will launch a composite benchmark index, the Dow Jones First Finance China 600 index, in September, according to Shanghai-headquartered FFMC.
The new composite index is to include indices of key listed companies on the Shanghai and Shenzhen stock exchanges. The same standards for all DJ global indices will apply to the new index, whose compilation will be done in exactly the same way as the Dow Jones STOXX 600 Index that tracks Europe's 600 largest listed companies.
By incorporating the largest listed firms in the Chinese market into one composite index, Dow Jones First Finance China 600 will make a clear and transparent benchmark for market evaluation and will provide valuable information on the Chinese market, one of the most important markets in the world, said Lars Hamich, managing director of STOXX, a Dow Jones joint venture for business development in Europe, Asia and the Middle East.
The new China index will be published daily on the Wall Street Journal, the Asia Wall Street Journal, First Media's TV programs and First Media Daily, a newspaper to be published on Oct. 18.
"The Dow Jones First Finance China 600 is going to be the first composite index to cover both Shanghai and Shenzhen bourses, and will play a strategic role in qualifying First Finance as a professional financial information provider," said Li Ruigang, chairman of the FFMC.
He said the index would be compiled on the share prices of China's top 600 listed companies and would become part of the DJ global 1800/600 indices that track altogether 1,800 listed companies in Europe, United States and the Asia Pacific.
First Finance was founded in August 2003 as a subsidiary whollyowned by the Shanghai Wenguang Media Group. Its TV channels, the only financial channels to target professional investors in China's interior regions, broadcast live at all major banks and future companies in Shanghai 12 hours a day.
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| promulgator:
tradeba.com
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