SSE Launches Index For Tracing 50 Blockchain Related Stocks
Shenzhen Stock Exchange (SSE), the stock exchange of China’s technology capital Shenzhen launched an index tracking the performance of 50 blockchain firms.
According to a report on Dec. 24, the index will be based on the stocks of 50 companies listed on the SSE that engage in the blockchain industry.
The top 50 blockchain-related stocks are valued based on their average daily market value over the prior six months. The index is renewed two times per year, on the second Friday of June and December.
Before developing the index, the SSE ensured that the companies concerned are really using the technology, rather than just profiting on the hype.
In March 2018, SSE had halted trading of healthcare device manufacturer Lifesense while it conducted inquiries into the firm and its demands regarding blockchain deployment. A company statement regarding the launch of a “blockchain laboratory” had made its share price to skyrocket 10%, beating the SSE’s daily limit.
SSE is one of two stock exchanges working autonomously in mainland China. The SSE’s market capitalization is $3.12 trillion, making it the eighth largest in the world and fourth-largest in Asia, according to the stock market data website TradingHours.
Significant exchanges are starting to list indexes that track blockchain and cryptocurrency-related firms. Nasdaq listed the AI-powered CIX100 index designed by crypto data provider Cryptoindex.
In September, Nasdaq also listed a blockchain decentralized finance index called ‘Defix,’ which involves projects such as decentralized exchange protocol 0x, proof-of-work blockchain Amoveo, and prediction market Augur.
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