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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: one_less who wrote (244585)	10/10/2007 11:58:47 AM
From: michael97123	Respond to of 281500

New Dow index complies with Islamic law By Aaron Siegel October 10, 2007 Dow Jones Indexes has launched the Dow Jones Islamic Market China/Hong Kong Titans Index, which tracks the 30 largest Shari'ah-compliant companies with operations in mainland China and Hong Kong. Shariah, or Islamic law, imposes ecomomic strictures for Muslims. The DJIM China/Hong Kong Titans Index seeks to measure the largest and most liquid Chinese stocks that comply with Islamic investment principles. The index has been licensed to Hang Seng Bank in Hong Kong to underlie an index fund. The DJIM Indexes combine Islamic investment principles with Dow Jones Indexes' own methodology. To be included in the index, stocks must pass industry and financial ratio screens for Shari'ah compliance. Excluded are companies that are involved in alcohol, defense/weapons, entertainment, financial services, pork-related products and tobacco. In order to be eligible for inclusion in the index, stocks must have an average float-adjusted market capitalization of 5 million Hong Kong dollars in 12-month daily trading volume. Stocks that meet these requirements are ranked first by float-adjusted market capitalization and then by 12-month average daily trading volume. Stocks are then ranked by an equally weighted combination of the free-float market capitalization and trading volume. The index is weighted by float-adjusted market capitalization and component weights are capped at 15%. The index is reviewed annually in September. Dow Jones Indexes is based in New York.