FTSE Hopes to Compile Value, Growth Indices for China

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Last updated at: (Beijing Time) Saturday, October 19, 2002

FTSE Hopes to Compile Value, Growth Indices for China

FTSE Group, a global index provider said Friday that it hopes to compile a value and growth index series for the Chinese mainland stock market sometime next year.

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FTSE Group, a global index provider said Friday that it hopes to compile a value and growth index series for the Chinese mainland stock market sometime next year.

Graham Colbourne, chairman of FTSE in Asia Pacific made the remarks at a news conference while launching the company's new Style Index Series, which comprises separate value and growth indices for the stocks in the world's developed and advanced merging markets.

"I am personally very keen to do a Style index for China. You know that we have an index series which we do with our partner, the Xinhua News Agency. So we have the FTSE-Xinhua indices for China.

"We've got a very broad-based index for the domestic A-share market, and I am trying to see if I can get enough data to do a Style on that market," said Colbourne.

The domestic Chinese fund managers have expressed interest in having a Style indices to see the rankings of Chinese stocks, he said, adding that he will need reliable earnings forecast of the listed companies, as well as, book values and earnings histories.

He said if he can have access to such data, he hopes "some timenext year to do Style on the Chinese market."

The FTSE Global Style Index Series launched Friday contains indices for each of the underlying country and regional indices inits coverage, which represents 29 country and 31 regional indices and comprises 1,800 stocks.

With 60 benchmarks containing separate value and growth indices,the new index series allow for segmentation of the investible areas in combinations to suit any investor or mandate requirement.

"Global investors using value and growth strategies will find, in the FTSE global style series, an index that helps them identifythe set of companies in the global market, that exhibit value and growth characteristics for better investment decisions," the pressrelease issued by FTSE said.

The Hong Kong stock market is one of the markets which have been ranked by the new indices. The top growth companies during trial ranking conducted on Aug. 15 this year were PCCW, Johnson Electric and China Mobile, while the top value companies ranked were New World Development, Hysan Development and Kerry Properties.

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