NEW YORK, May 31, 2006 (PRIMEZONE) -- Dow Jones Indexes, a leading global index provider, today announced that it will expand its Dow Jones Islamic Market Index series by launching the Dow Jones Islamic Market China Offshore Index.
The Dow Jones Islamic Market China Offshore Index represents companies that have been screened for compliance with Islamic principles and whose primary operations are in mainland China but trade at the Hong Kong Stock Exchange, New York Stock Exchange, Nasdaq or American Stock Exchange. Stocks included in the index are H shares, red chips, ADR/ADS and Chinese stocks listed in the U.S.
The Dow Jones Islamic Market China Offshore Index is designed to serve as underlying for investment products such as mutual funds, exchange-traded funds (ETFs) and other investable products.
"The Dow Jones Islamic Market China Offshore Index offers market participants exposure to an investable and Shari'ah compliant index that follows the superior methodology of the Dow Jones Islamic Market Indexes," said Michael A. Petronella, president of Dow Jones Indexes. "While China has experienced tremendous growth, the local Chinese market offers only restricted access to foreign investors. Investing in China offshore stocks is an attractive alternative."
The Dow Jones Islamic Market China Offshore Index is weighted by free-float market capitalization and will be reviewed quarterly in March, June, September and December. Historical index values are available daily back to Dec. 31, 2005. The base value of the index is set at 1,000 as of that date.
Dow Jones Indexes launched its Islamic Index family in 1999. Excluded from the Islamic Index series are stocks of companies that operate in alcohol, tobacco, pork-related products, financial services, defense/weapons, and entertainment. Also excluded are companies that fail any of three financial ratios: total debt divided by trailing 12-month average market capitalization is greater than or equal to 33% or more; cash plus interest-bearing securities divided by trailing 12-month average market capitalization is greater than or equal to 33%; and accounts receivables divided by total assets is greater than or equal to 33% or more.
Further information about the Dow Jones Islamic Market China Offshore Index, as well as about the Dow Jones Islamic Market Indexes, is available at www.djindexes.com.
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: + 49-69-29725-290
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About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
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