Launch of Hang Seng CSI Shanghai-Hong Kong AH Smart Index

Transcription

Launch of Hang Seng CSI Shanghai-Hong Kong AH Smart Index
PRESS RELEASE
10 November 2014
Launch of Hang Seng CSI Shanghai-Hong Kong AH Smart Index
Hang Seng Indexes Company Limited (“Hang Seng Indexes”), Hong Kong's leading index
compiler, and China Securities Index Company Limited (“CSI”), an influential index
company in mainland China, today announced that they will jointly launch the Hang Seng
CSI Shanghai-Hong Kong AH Smart Index (“SHHKSI”) on 17 November 2014.
This cooperative effort brings together the brands and expertise of the two index compilers
and will put global investors in a better position to capture the investment opportunities
arising from Shanghai-Hong Kong Stock Connect (“SH-HK Stock Connect”).
The SHHKSI will cover 50 SH-HK Stock Connect eligible companies with dual listings as
A-shares on Shanghai Stock Exchange and H-shares on the Main Board of the Stock
Exchange of Hong Kong. The index will include the share class that has a lower relative
price.
The SHHKSI aims to provide a benchmark reflecting a price arbitrage strategy that may
bring additional returns to investors while the AH price difference is expected to be
narrowed after the launch of the SH-HK Stock Connect.
Mr Vincent Kwan, Director and General Manager of Hang Seng Indexes, said: “Hang
Seng Indexes is pleased to join with CSI to develop the Shanghai-Hong Kong AH Smart
Index. The Shanghai-Hong Kong Stock Connect will improve the efficiency of the two
stock markets and induce more demand on cross-market index products. We will continue
to develop more new index solutions to satisfy different market demands.”
Mr Zhigang Ma, Chief Executive Officer of CSI, said: “Launched with the partnership of
Hang Seng Indexes, this strategy index rides on the arbitrage opportunities arising from the
AH price difference of dual-listed companies in Shanghai and Hong Kong. CSI will
continue to develop more indexes to meet investors’ needs in cross-border investments.”
The SHHKSI will be calculated and disseminated real-time at 2-second intervals starting
from 17 November 2014. For more details of the SHHKSI and the list of constituents,
please refer to Appendix 1 and 2 respectively.
- Ends -
Launch of Hang Seng CSI Shanghai-Hong Kong AH Smart Index / 2
About Hang Seng Indexes Company Limited
The Hang Seng Family of Indexes is managed and compiled by Hang Seng Indexes Company Limited
(formerly HSI Services Limited), which is a wholly-owned subsidiary of Hang Seng Bank. The Hang Seng
Family of Indexes comprises a wide range of Flagship, Benchmark, Thematic, Strategy and Bond indexes that
cover Hong Kong and mainland China markets. For further information on the Hang Seng Family of Indexes,
please visit the company's website at www.hsi.com.hk.
About China Securities Index Company Limited
As a joint venture between the Shanghai Stock Exchange and the Shenzhen Stock Exchange, CSI is a
professional business entity specialising in the creation and management of indices and index-related services.
CSI is dedicated to serving the capital market and promoting financial innovation relying on the information
and technical advantages of the two exchanges. Focusing on the series of CSI indices, exchange indices and
customized indices, CSI aims to become the leading index provider in China. For further information on CSI,
please visit the company's website at www.csindex.com.cn.
Appendix 1
Hang Seng CSI Shanghai-Hong Kong AH Smart Index
Universe
Shanghai-Hong Kong Stock Connect eligible
companies with dual listings as A-shares on Shanghai
Stock Exchange and H-shares on the Main board of
the Stock Exchange of Hong Kong
Launch Date
17 November 2014
Base Date
9 April 2014
Base Value
5,000
Number of Constituents
50
Review Frequency
Half-yearly
Share Class Switching
Frequency
Monthly
Switching Mechanism
For each constituent company
 A-share to H-share only if AHPR* > 103
 H-share to A-share only if AHPR* < 97
 Otherwise, no change
Weighting Methodology
Freefloat-adjusted market capitalisation (total of Ashare and H-share) weighted with a 10% cap
on each constituent weighting
Currency
CNY
Dissemination
Real-time at 2-second intervals
* AH Price Ratio, i.e. A-share price / H-share price (in CNY equivalent) x 100, of the constituent company
#
Day-end closing index values in CNY and HKD are available
Appendix 2
Hang Seng CSI Shanghai-Hong Kong AH Smart Index
Constituents and weightings
(as at 7 November 2014 after monthly switching implemented)
Name
CCB
ICBC
Ping An
Bank of China
PetroChina
Minsheng Banking
CM Bank
Sinopec Corp
China Life
ABC
Bankcomm
CITIC Sec
CPIC
China Shenhua
Haitong Securities
Anhui Conch
CEB Bank
Huaneng Power
CITIC Bank
China Railway
GreatWall Motor
China Comm Cons
CSR
NCI
China CNR
China Rail Cons
China Oilfield
Tsingtao Brew
Fosun Pharma
Zijin Mining
Jiangxi Copper
CHALCO
Huadian Power
Shanghai Pharma
Air China
China Coal
Baiyunshan Pharm
Datang Power
SH Electric
GAC Group
MCC
CSCL
China South Air
Shanghai Pechem
Dongfang Elec
Yanzhou Coal
China East Air
Jiangsu Express
BBMG
CMOC
AH Price Ratio
(%)
92.83
90.45
86.80
95.62
106.95
105.27
93.12
101.66
88.48
89.36
95.40
88.46
89.46
89.64
101.50
85.13
97.63
89.33
124.16
110.23
114.19
123.35
93.13
128.87
106.67
106.31
150.14
89.82
91.22
167.61
127.52
142.57
87.77
96.42
108.62
126.95
134.57
133.24
213.28
141.76
156.26
193.18
143.83
195.50
151.19
178.85
157.26
91.85
156.73
187.69
A-share
Code
601939
601398
601318
601988
H-share
Code
857
1988
600036
600028
601628
601288
601328
600030
601601
601088
6837
600585
601818
600011
998
390
2333
1800
601766
1336
601299
1186
2883
600600
600196
2899
358
2600
600027
2607
753
1898
874
991
2727
2238
1618
2866
1055
338
1072
1171
670
600377
2009
3993
Weighting
(%)
10.01
9.55
7.34
6.64
5.64
5.40
5.08
4.69
4.28
3.54
3.24
3.18
2.66
2.52
2.45
1.50
1.49
1.23
1.23
1.16
1.13
1.02
0.96
0.94
0.94
0.93
0.75
0.74
0.72
0.66
0.66
0.65
0.55
0.55
0.53
0.50
0.46
0.45
0.44
0.44
0.37
0.37
0.34
0.33
0.33
0.33
0.32
0.31
0.31
0.16
100.00