BEIJING, Feb. 20 (Xinhua) -- A batch of 12 exchange-traded funds (ETFs) tracking the SSE Science and Technology Innovation Board Composite Index started sales from February 17, reported Xinhua Finance.
These ETFs established to bet on hard technologies were welcomed by the market as one of them finished its two billion yuan fund-raising target by midday on Monday.
SSE Sci-tech Innovation Board Composite Index, better known as STAR Market composite index, is a broadly based index that gauges the overall performance of STAR Market-listed companies.
Latest data shows that there are 560-plus underlying stocks for the STAR Market composite index and weightings of related industries of the underlying stocks are basically in line with the STAR Market composition.
Regardless of others, semi-conductor, electronic equipment, machinery manufacturing, and medical industry stocks own relatively high weightings among the underlying stocks for the STAR Market composite index.
Previously on January 8, Shanghai Stock Exchange (SSE) and China Securities Index Co., Ltd. jointly unveiled compiling plans of the index and before its formal debut on January 20, a batch of ETFs tracking the indicator had been applied for issuance.
Industry experts deemed that alongside the launch of such ETFs, the "toolkit" for investors to seek fortune on STAR Market is further enriched.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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