Dow Jones Indexes will introduce its first African country to its blue-chip index family with the launch of the Dow Jones South Africa Titans 30 on 16 September. The index will be based on blue-chip companies with headquarters in South Africa.
'The index was developed due to the growing importance of the South African market,' said Lars Hamich, executive director of global business development at Dow Jones Indexes.
The 30 stocks selected for Dow Jones South Africa Titans 30 are the largest and most liquid securities in their market. With a market capitalisation of $60.8bn, the index represents 72% of its respective market capitalisation as at 30 June 2003. The index is free-float market capitalisation weighted and weights are capped at 10% to prevent dominance by any individual company.
The index will be distributed on a real-time basis through major market data vendors. Historical data on the Dow Jones South Africa Titans 30 index will be available back to 31 December 1991, with a base value of 100.
The Dow Jones Titans series comprises the Dow Jones Global Titans 50, Dow Jones Sector Titans 30 with 18 global sector indices, Dow Jones Asian Titans 50, 13 Dow Jones Country Titans indices, Dow Jones Tiger Titans 50 and the Dow Jones Islamic Titans 100.
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