Shares under initiative to be tracked in joint index
Print Edition
SHANGHAI Stock Exchange and China Securities Index Co said they will jointly unveil an index that tracks performance of shares related to China’s “One Belt, One Road” initiative.
To be launched on June 24, the SSE One Belt & One Road Index, or SSE OBOR, will cover 52 Shanghai-listed companies that have business connected to China’s strategy to build the New Silk Road Economic Belt and the 21st Century Maritime Silk Road, a joint statement said yesterday.
“The index is designed to serve as a new benchmark and an investable tool for investors,” the statement said.
Based on criteria including the size of overseas business and the number of new orders from countries along the “Belt and Road” corridor, the index includes most representative stocks from five sectors — infrastructure construction, traffic and transport, equipment manufacturing, electric power and communication, and resource development, the statement said.
The component stocks have an aggregated market capitalization of 7.07 trillion yuan (US$1.14 trillion), taking up 18.7 percent of the total market value on the Shanghai bourse.
The base date for the index is December 31, 2012, with base value at 1,000, it said.
China Petroleum and Chemical Corp, PetroChina Co, Shanghai International Port (Group) Co, China Railway Construction Corp and China Shipbuilding Industry Co are among the component stocks.
The CSI One Belt & One Road Index, which tracks 79 related shares on the Shanghai and Shenzhen markets, has surged above 80 percent since the index was launched in February.
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