Dow jones indexes launches islamic market index for hong kong listed chinese stocks.Dow jones Dow Jones
the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202]
See : Finance indexes launches islamic market index for hong kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. listed chinese stocks
Dow Jones Indexes, a leading global index provider, today launched the Dow Jones Islamic Market (DJIM) China Offshore Hong Kong Index.
The DJIM China Offshore Hong Kong Index represents the performance of companies that have been screened for compliance with Islamic principles and whose primary operations are in mainland China but trade on the Hong Kong stock exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. . Stocks included in the index are H-Shares and Red Chips.
The DJIM China Offshore Hong Kong Index is designed to serve as underlying for investment products such as mutual funds, exchange-traded funds (ETFs) and other investable products.
"The Dow Jones Islamic Market China Offshore Hong Kong Index is another innovative addition to the highly successful Dow Jones Islamic Market index series following a unique and superior methodology," said John Prestbo, editor and executive director, Dow Jones Indexes. "Market participants will find in this index a way to track Shari'ah compliant mainland China stocks that are listed in the easily accessible Hong Kong market rather than in the restricted local Chinese market."
The DJIM China Offshore Hong Kong Index is weighted by free-float market capitalization Market Capitalization
A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and component weights are capped at 10%. As of April 30, 2008, the index consists of 40 components of which the top five components by free float-adjusted market capitalization are China Mobile Ltd., China Unicom China Unicom, full name China United Telecommunications Corporation, 中国联通, HKSE: 0762 NYSE: CHU, is a telecommunication operator in the People's Republic of China. 52. Ltd., CITIC Pacific CITIC Pacific (Traditional Chinese: 中信泰富, HKSE: 0267 ) is a Hong Kong-based conglomerate company.
The company's current chairman is Larry Yung Chi Kin. Ltd., CNOOC CNOOC China National Offshore Oil Corporation Ltd. and PetroChina Co. Ltd.
As of April 30, 2008, the DJIM China Offshore Hong Kong Price Index (US dollar) gained 152.9% from its base date, December 31, 2005 in a backtest.1
The DJIM China Offshore Hong Kong Index is calculated in both U.S. dollar and Hong Kong dollar Noun 1. Hong Kong dollar - the basic unit of money in Hong Kong
dollar - the basic monetary unit in many countries; equal to 100 cents versions. It is reviewed quarterly in March, June, September and December.
Launched in 1999, the Dow Jones Islamic Market Indexes seek to measure the global universe of investable equities that pass screens for Shari'ah compliance. The Dow Jones Islamic Market Indexes combine Islamic investment principles with Dow Jones Indexes' objective, transparent and rules-based methodology.
The index family includes more than 70 regional, country and industry indexes derived from the flagship Dow Jones Islamic Market World Index. In 2006 the index family expanded to include the Dow Jones Islamic Market Sustainability Index, which combines Islamic investing principles with sustainability criteria, the Dow Jones Citigroup Sukuk Index, the first index to track Islamic bonds and Dow Jones Islamic Market BRIC BRIC Brazil, Russia, India and China (world affairs)
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BRIC Biological Research Information Center (Korea)
BRIC Benign Recurrent Intrahepatic Cholestasis Equal Weighted Index, which tracks Shari'ah compliant stocks in Brazil, Russia, India and China. Islamic blue-chip indexes for Sri Lanka, Dubai, China/Hong Kong and India were launched last year.
There are currently more than 75 licensees with more than US$7 billion in assets benchmarked to the Dow Jones Islamic Market Indexes. For more information on the Dow Jones Islamic Market Indexes, please visit www.djindexes.com.
[c] 2008 Al Bawaba (www.albawaba.com)