Type to search

Shanghai Exchange STAR Gazing With Launch of Next-Gen IT Index
The STAR board is a science and tech-focused equities market established in 2019.

• Board will track web and cloud computing, big data services and AI firms

• STAR market a science and tech-focused equities market established in 2019

 

Shanghai’s Stock Exchange is to launch a new index tracking 50 major listed companies from its tech-focused STAR board involved in next generation information technology.

The exchange announced the move on Thursday which will see the SSE STAR Next Generation Information Technology Index introduced on August 16.

The Shanghai Stock Exchange STAR Market, officially known as the Shanghai Stock Exchange Science and Technology Innovation Board, is a science and tech-focused equities market established in 2019.

 

Also on AF: Buffett-Backed Paytm: Five Things About India’s Biggest IPO in a Decade

 

The selected 50 companies would cover a range of areas, such as internet and cloud computing, big data services and artificial intelligence, according to the statement.

China said in its annual work report released earlier this year that it would increase its annual research and development spending by more than 7% each year over the next five years.

 

  • Reporting by Reuters

 

Read more:

E-Commerce Firm Bukalapak Raises $1.5bn in Indonesia’s Biggest IPO

Bank of Japan Reveals Market-Boosting Green Bonds Plan

 

AF China Bond