BNP Paribas to create new index for Singapore-listed China stocks |
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Published
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Mon, 15 Jan 2007 12:07
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SINGAPORE (XFN-ASIA) - BNP Paribas said it will create a new index, dubbed the PrimePartners Index Investible Basket, to facilitate the development of financial products linked to eight Chinese companies listed here.Among the companies included in the portfolio are COSCO Corp (Singapore), People's Food and Celestial Nutrifoods.BNP Paribas said it intends to create option-based structured products based on the index and is targeting to attract institutional investors and high net worth individuals.'With the index, we will able to create products that give you access into a basket of stocks instead of individual stocks,' said Alfred Yip, BNP Paribas head of financial institutions sales in Hong Kong and Singapore.He added that initial response from investors has been positive.The PrimePartners Index Investible Basket is based on the PrimePartners China Index, created by PrimePartners Corporate Finance Pte Ltd, which tracks the performance of 25 Singapore-listed China firms.PrimePartners Corporate Finance said there are about 113 Chinese listed companies here, with a combined market capitalization of 39.6 bln sgd, representing almost seven pct of the Singapore Exchange's market capitalization.(1 usd = 1.54 sgd)yuinmunn.szetoh@xfn.com
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China A-shares close higher on fund inflows, key index at new closing high 