FTSE Russell to include 11 Star Market shares from March
2021-02-22 | CGTN
London-based securities benchmark provider FTSE Russell decided to add 129 A-shares to its Global Equity Index Series, including 11 shares from the Shanghai Stock Exchange's Star Market, the results of its semi-annual review of indices showed on Friday.
This is the first time Star Market shares were included in a global index. FTSE Russell said overseas investors are eager to add Star Market shares to their portfolio, which is why the benchmark provider took the lead in the inclusion among other international index providers, China Securities News reported on Saturday.
The inclusion will be effective from March 22 this year, according to FTSE Russell, and it's expected to attract about $100 million of incremental funds for Star Market shares, said Du Wanming, director of Index Policy, Asia-Pacific at FTSE Russell, according to the report.
The eligible 11 Star Market shares are: Raytron Technology, Zhejiang HangKe Technology, Montage Technology, China Railway Signal & Communication, Advanced Micro-Fabrication Equipment (China), Anji Microelectronics Technology (Shanghai), Western Superconducting Technologies, Qingdao Haier Biomedical, Shanghai Junshi Biosciences, CanSino Biologics, and Shanghai Haohai Biological Technology.
The Star Market shares should be incorporated into the Shanghai-Hong Kong Stock Connect before the inclusion into the FTSE Russell flagship index, according to the benchmark provider's arrangement.
A total of 12 Star Market shares entered the stock connect program on February 1 this year, according to an announcement by the Hong Kong Exchanges and Clearing Limited. Among the 12 Star Market shares, only Shanghai Fudan-Zhangjiang Bio-Pharmaceutical has not yet entered the FTSE Russell Global Index series.