Three HK Companies Deleted from FTSE Large Cap Index

2007-02-28 16:46 816

HONG KONG, Feb. 28 /Xinhua-PRNewswire/ -- FTSE Group ("FTSE"), the global index provider, today confirms the annual review results of its Asian benchmark, the FTSE Asia Pacific ex Japan Index. The FTSE Asia Pacific Regional Committee, made up of independent market practitioners, has reviewed the index series and approved the addition of 23 companies to the Large Cap index, including four IPO stocks -- Nine Dragons Paper Industries (Hong Kong), Shimao Property Holdings (Hong Kong), Tech Mahindra Limited (India) and Inotera Memories (Taiwan).

The Committee also approved a number of deletions from the series, including Jardine Matheson, Jardine Strategic and Swire Pacific "B" from the FTSE Large Cap Index. These companies have been removed from the index, as they have not met FTSE's liquidity rule. FTSE's liquidity rule requires that companies must trade at least 0.04% of its free-float adjusted shares in issue based on its median daily trade per month in 8 out of 12 months. This rule ensures that companies must trade for more than half the trading days in a month, and so removes stocks which are difficult to trade.

Full results of the review, which includes changes to large, mid and small cap stocks are available at: (Due to the length of the link, please copy and paste into your browser.)

All changes will be applied at close of business on Friday, March 16, 2007.

Details of FTSE's liquidity rule can be found at: (Due to the length of the link, please copy and paste into your browser.)

About FTSE Group

FTSE Group is a world-leader in the creation and management of indexes. With offices in Beijing, London, Frankfurt, Hong Kong, Madrid, Paris, New York, San Francisco, Boston, Shanghai and Tokyo, FTSE Group services clients in 77 countries worldwide. It calculates and manages the FTSE Global Equity Index Series, which includes world-recognized indexes ranging from the FTSE All-World Index, the FTSE4Good series and the FTSEurofirst Index series, as well as domestic indexes such as the prestigious FTSE 100. The company has collaborative arrangements with the Athens, AMEX, Cyprus, Euronext, Johannesburg London, Madrid, NASDAQ and Taiwan exchanges, as well as Nomura Securities, Hang Seng and Xinhua Finance of China. FTSE also has a collaborative agreement with Dow Jones Indexes to develop a single sector classification system for global investors.

FTSE indexes are used extensively by investors world-wide for investment analysis, performance measurement, asset allocation, portfolio hedging and for creating a wide range of index tracking funds. Independent committees of senior fund managers, derivatives experts, actuaries and other experienced practitioners review all changes to the indexes to ensure that they are made objectively and without bias. Real-time FTSE indexes are calculated on systems managed by Reuters. Prices and FX rates used are supplied by Reuters.

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Source: FTSE Group
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