BEIJING, Dec. 22, 2005 (PRIMEZONE) -- Dow Jones Indexes today announced changes in the composition of the Dow Jones China Index Series (Dow-China Indexes). The component changes in the Dow Jones China Total Market (Dow-China Total Market), Dow Jones Shanghai (Dow-Shanghai), Dow Jones Shenzhen (Dow-Shenzhen) Index, and Dow Jones CBN China 600 Index will be effective on January 4, 2006.
On January 4, 2006, with 17 additions and 17 deletions, the number of components in the Dow-China Total Market will remain unchanged with 1159 components, which include 1095 A-shares and 64 B-shares. The number of components in the Dow-Shanghai Index will increase to 710 from 708, with 10 additions and 8 deletions, and the number of components in the Dow-Shenzhen index will decrease to 449 from 451, with 7 additions and nine deletions. The Dow-Shanghai index represents roughly 95% of the free float market capitalization of Shanghai market, and the Dow-Shenzhen index represents roughly 95% of the free float market capitalization of Shenzhen market. The Dow-China Total Market Index reflects roughly 95% percent of the free float market capitalization for both the Shanghai and Shenzhen markets.
The composition of the Dow Jones China 88 Index, which tracks the largest and most liquid 88 stocks in China's Class-A market, will remain unchanged. The Dow Jones China 88 Index reflects roughly 36.40% of the total free float market capitalization of both the Shanghai and Shenzhen markets.
Effective on January 4, 2006, 20 components will be replaced in the Dow Jones CBN China 600 Index. The Dow Jones CBN China 600 Index has been launched on September 6, 2004 and reflects roughly 80% of China's total free float market capitalization.
Changes are being announced today after the conclusion of a regular quarterly component review.
Dow Jones Indexes also completed the regular semiannually review for the Dow Jones CBN China 600 Sector Blue-Chip Indexes, which were launched on September 8, 2005 as subsets of the Dow Jones CBN China 600 Index. As a result of this regular review, the changes for the 14 sectors are as follows:
Add and Delete list of Dow Jones CBN China 600 Sector Blue-Chip Indexes
Number of
Previous number components
of components Additions Deletions after review
Automobile & Parts 15 1 1 15
Basic Resources 15 1 1 15
Chemicals 15 3 3 15
Construction &
Mater 15 1 1 15
Financials 15 1 1 15
Food & Beverage 15 3 3 15
Health Care 15 1 1 15
Industrial Goods &
Services 15 2 2 15
Oil & Gas 8 2 0 10
Personal & Household 15 1 1 15
Retail 15 1 1 15
Technology 15 3 3 15
Travel & Leisure 14 2 1 15
Utilities 15 2 2 15
All changes are effective on January 4, 2006.
Aimed at providing investors in China and around the world with an accurate tool for tracking equity performance in China's growing stock markets, the Dow-China Indexes are constructed with the same strict standards used to develop the Dow Jones Global Indexes.
Float-adjusted shares, which exclude all state-owned shares and unlisted employee shares, are used for stock selection and index calculation, in order to provide an accurate representation of the shares that are actually available to investors for trading. Dow Jones Indexes excludes block holdings of individuals, other companies or governments that exceed 5% of total market value in calculating free-float for selection of component stocks.
The Dow-China 88, Dow-China Total Market, Dow-Shanghai and Dow-Shenzhen were launched May 27, 1996 to commemorate the 100th anniversary of the world's most widely reported market indicator, the Dow Jones Industrial Average, which was launched in 1896. All four indexes in the Dow-China Index series have a base value of 100 on Dec. 31, 1993.
Note to Editors
The methodology, as well as a full list of components including weightings and values of the Dow Jones China Indexes, is available at http://chinaindex.dowjones.com.
Company additions to and deletions from the Dow Jones China Indexes do not in any way reflect an opinion on the investment merits of the company.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact a member of the Dow Jones Indexes/STOXX public relations group:
New York: +1-212-597-5720 Frankfurt: + 49-69-97142815
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
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