CSI Cross-Straits 500 index launched

The index picks 500 stocks as samples, including 300 shares from the CSI-300 index, 100 stocks from the CSI Hong Kong

100 index, and 100 stocks from the Taiwan Stock Exchange.

The CSI will publish the index in Chinese Yuan, U.S. dollars, Hong Kong dollars and New Taiwan dollars, and the 500 companies will have a combined market value of US$468.5 billion.

This covers 75 percent of the total market capitalization of the stock markets in China, Hong Kong and Taiwan, and 53 percent of the combined trading volume.

Market observers said that Taiwanese shares included in the index are very likely to become the first target of China's qualified domestic institutional investors (QDIIs) there are allowed to invest in the local bourse starting yesterday.

Among the 200 shares included in the CSI Cross-Straits 500 index are Taiwan Semiconductor Manufacturing Co., Hon Hai, MediaTek, HTC, Quanta Computer, Compal Electronics, AU Optronics, Acer, Tatung, Synnex, most financial holding firms, and quite a few traditional industry shares such as Formosa Plastic and China Steel, Giant, Taiwan Cement, China Steel, Yulon Motor, China Airlines, etc.

The CSI Cross-Straits 500 index opened at 1471.04 and ended 0.41 percent lower at 1456.69.

In related news, two Chinese QDIIs, namely the China International Fund Management Co., Ltd. and the China Asset Management Co., Ltd., did step into the local bourse yesterday, the first trading session after such QDIIs are allowed to join the bourse. They posted a slight net buy during the session.

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