An investor looks at share prices at a brokerage in Fuyang, Anhui province, March 29, 2019. (WANG BIAO / FOR CHINA DAILY)
A new component index will be released on the 11th trading day after the number of listed stocks and depository receipts reaches 30 on the sci-tech innovation board (STAR Market), according to the Shanghai Stock Exchange (SSE) and China Securities Index Company Limited.
STAR Market, China's Nasdaq-style tech board, started trading on Monday, with the first batch of 25 tech companies to be listed.
The new index, the SSE STAR Market 50 component index, can reflect the overall price performance of listed companies on the new board, reflect the market structure and changes, and enrich the SSE index system
Shanghai Stock Exchange
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The new index, the SSE STAR Market 50 component index, can reflect the overall price performance of listed companies on the new board, reflect the market structure and changes, and enrich the SSE index system, said the SSE in a statement.
At present, internationally influential indexes are primarily component indexes, which can not only serve as a yardstick to measure the overall performance of the market, but also a tool for asset allocation, investment and risk management, according to the statement.
Listed companies on STAR Market mainly focus on high-tech and strategic emerging industries, including information, biomedicine and high-end equipment, with intensive research and development input, it said.
READ MORE: China's new Nasdaq-style venue set for Monday trading start
Most of the listed companies are developing rapidly, in line with the direction of the national strategy and economic restructuring, it added.
The index is conducive to the formation of a demonstration effect of the most influential leading companies, according to the SSE statement.
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