NEW YORK, March 17, 2008 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced changes in the composition of the Dow Jones China Index Series. Component changes in the Dow Jones China 88, Dow Jones China Offshore 50, Dow Jones China Broad Market, Dow Jones Shanghai, Dow Jones Shenzhen and Dow Jones CBN China 600 indexes will be effective on March 24, 2008.
The following eight companies will be deleted from the Dow Jones China 88 Index, which tracks the largest and most liquid 88 stocks in China's Class-A market and reflects roughly 44.52% of the float-adjusted market capitalization of both the Shanghai and Shenzhen markets: Chongqing Changan Automobile Co., Ltd. (Automobiles & Parts, 000625.SZ), Huludao Zinc Industry Co., Ltd. (Basic Resources, 000751.SZ), Maanshan Iron & Steel Co., Ltd. (Basic Resources, 0323.HK; 600808.SH), Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. (Financial Services, 600895.SH), Shenzhen Energy Investment Co., Ltd. (Utilities, 000027.SZ), Sichuan Changhong Electric Co., Ltd. (Personal & Household Goods, 600839.SH), Sinopec Shanghai Petrochemical Co., Ltd. (Chemicals, 0338.HK; 600688.SH; SHI) and Tianjin Teda Co., Ltd. (Industrial Goods & Services, 000652.SZ).
The companies entering the index are: Bank of Beijing Co., Ltd. (Banks, 601169.SH), China Coal Energy Company Limited (Basic Resources, 1898.HK; 601898.SH), China Oilfield Services Limited (Oil & Gas, 2883.HK; 601808.SH), China Pacific Insurance (Group) Co., Ltd. (Insurance, 601601.SH), China Railway Group Limited (Construction & Materials, 0390.HK; 601390.SH), China Shipping Container Lines Company Limited (Industrial Goods & Services, 2866.HK; 601866.SH), Datang International Power Generation Co., Ltd. (Utilities, 0991.HK; 601991.SH; DIPGY) and Shanghai Dazhong Public Utilities (Group) Co., Ltd. (Utilities, 600635.SH).
The number of Shanghai-listed stocks in the Dow Jones China 88 Index will be increased to 67 from 63 components, while the number of Shenzhen-listed stocks will be decreased to 21 from 25 components. Shanghai-listed stocks represent 82.43% of the free-float market capitalization of the Dow Jones China 88 Index, compared to 17.57% for Shenzhen-listed companies.
Three components will be replaced in the Dow Jones China Offshore 50 Index, which represents the largest stocks of companies whose primary operations are in mainland China but that trade on exchanges in Hong Kong and the U.S. The companies that will be deleted from the index are: Guangdong Investment Ltd. (Utilities, 0270.HK), Maanshan Iron & Steel Co. Ltd. (Basic Resources, 0323.HK; 600808.SH) and SINOPEC Shanghai Petrochemical Co. Ltd. (Chemicals, 0338.HK; 600688.SH; SHI).
The companies entering the index are: China National Building Material Co. Ltd. (Construction & Materials, 3323.HK), Mindray Medical International Ltd. ADS (Health Care, MR) and Sino-Ocean Land Holdings Ltd. (Financial Services, 3377.HK).
With 26 additions and 11 deletions, the number of components in the Dow Jones China Broad Market Index will increase to 1163 from 1148 with 1113 A-shares and 50 B-shares. The Dow-China Broad Market Index reflects approximately 95% percent of the free-float market capitalization for both the Shanghai and Shenzhen markets.
The number of components in the Dow Jones Shanghai Index will increase to 712 from 702, with 12 additions and 2 deletions, while the number of components in the Dow Jones Shenzhen Index will increase to 451 from 446 components, with 14 additions and 9 deletions. The Dow Jones Shanghai and Dow Jones Shenzhen indexes represent approximately 95% of the free-float market capitalization of their respective markets.
There will be 31 components replaced in the Dow Jones CBN China 600 Index, which reflects roughly 80% of China's free-float market capitalization.
All changes above are being announced today after the conclusion of a regular periodical review.
Separately, while the Dow Jones CBN China 600 Sector Blue-Chip indexes are typically reviewed semiannually in June and December, two changes are being announced this quarter due to markets circumstances.
Wuhu Conch Profiles and Science Co., Ltd. (Construction & Materials, 000619.SZ) will be deleted from the Dow Jones CBN China 600 Construction & Materials Blue-Chip Index. The company is being deleted from the index because it is being removed from the Dow Jones CBN China 600 Index, of which the DJ CBN China Construction & Materials index is a subset. In the Dow Jones CBN China 600 Construction & Materials Blue-Chip Index, it will be replaced by China Railway Construction Corporation Limited (Construction & Materials, 1186.HK; 601186.SH).
Kingdream Public Limited Company (Oil & Gas, 000852.SZ) will be deleted from the Dow Jones CBN China 600 Oil & Gas Blue-Chip Index, also a subset of the Dow Jones CBN China 600 Index, due to its deletion from the Dow Jones CBN China 600 Index. No replacement will be made to the Dow Jones CBN China 600 Oil & Gas Blue-Chip Index.
The Dow Jones CBN China 600 Sector Blue-Chip Indexes were launched on September 8, 2005 as subsets of the Dow Jones CBN China 600 Index.
The methodology, as well as a full list of components, weightings and values, of the Dow Jones China Indexes are available at http://www.djchinaindexes.com
The Dow Jones China Indexes are designed to provide investors globally with accurate tools for measuring equity performance in China. Float-adjusted shares, which exclude all state-owned and unlisted employee shares, are used for stock selection and index calculation, in order to accurately reflect shares available to the public. Block holdings of individuals, other companies or governments that exceed 5% of total market value are also excluded.
The Dow Jones China 88, Dow Jones Shanghai and Dow Jones Shenzhen indexes were launched on May 27, 1996 to commemorate the 100th anniversary of the Dow Jones Industrial Average, the world's most widely quoted stock market indicator.
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 Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725-290
Note to Editors:
About Dow Jones Indexes
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