Shanghai bourse launches financial stock index

The Shanghai Stock Exchange and China Stock Index Co announced that a financial stock index, to be called the Financial 180, will be launched on December 10, Xinhua Net reported (in Chinese). The index will track the major financial stocks' performance wich account for 28.11% of market value on Shanghai market, reported the news service, citing a source at the stock exchange. The 12 component stocks of the index comprise nine banks (including Industrial and Commercial Bank of China and Bank of China), two insurers (China Life and Ping An) and CITIC Securities.