Jiangsu Hengrui Medicine tops the list with a 10.19% weighting.
Hang Seng Indexes has launched the Hang Seng Stock Connect Biotech 50 Index, which aims to track the performance of largest biotech companies in Hong Kong and Mainland China, according to a press release.
As of 20 March, the top 10 constituent company weightings are Jiangsu Hengrui Medicine (10.19%), Shenzhen Mindray Bio-Medical Electronics (6.05%), WuXi Apptec (5.75%), Sino Biopharmaceutical (5.75%), WuXi Biologics (Cayman) (4.85%), Changchun High & New Technology Industries (4.61%), CSPC Pharmaceutical Group (4.45%), Shanghai Fosun Pharmaceutical (Group) (3.03%), Alibaba Health Information Technology (2.84%), and Walvax Biotechnology (2.78%).
Eligible companies are required to have an average daily turnover of at least $20m (US$2.58m) for Hong Kong-listed securities and $21.94m (CNY20m) for A-shares over the last six months. It should also be classified under pharmaceuticals, biotechnology or medical devices.
According to Hang Seng, the new index is calculated and disseminated in real-time at two-second intervals, providing a tradable benchmark for product issuers interested in the field of biotechnology.
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