Shenzhen Stock Exchange Launches Index Of 50 Blockchain Firms

The stock exchange of China’s tech capital Shenzhen, the Shenzhen Stock Exchange (SSE) launched an index tracking the performance of 50 blockchain firms.

On Dec. 24 an announcement was made by SSE that the index will be based on the stocks of 50 companies listed on the exchange that participate in the blockchain industry.

The rankings of the top 50 blockchain-related stocks will be based on the average daily market value over the past six months.

The index is updated two times per year:

  1. On the second Friday of June

  2. On the second Friday Of December

SSE ensured that the companies involved are actually using the technology, rather than just capitalizing prior to creating the index.

The Shenzhen Stock Exchange is one of the two stock exchanges operating independently in mainland China. SSE’s market capitalization is $3.12 trillion, making it the fourth largest in Asia and the eighth largest in the world.

AI-Powered Index

In September, the world’s second-largest stock exchange NASDAQ listed an AI-powered CIX100 index created by crypto data provider Cryptoindex. CIX100 index is powered by artificial intelligence to give traders a quick view of the real-time performances of the crypto markets. The index was previously listed by Reuters, Bloomberg, and Tradingview.

Major stock exchanges are beginning to list indexes that track blockchain and cryptocurrency-related firms.

Source: Cointelegraph

#shenzhen #china #blockchain #sse #index #stockexchange

0 comments