China’s Shenzhen Stock Exchange Introduced Performance Tracking Index of Blockchain Firms

By Warren Hayes | December 26, 2019

The Shenzhen Stock Exchange (SSE) of tech-focused city of China – Shenzhen – has reportedly introduced an index, devoted to keeping record on how 50 blockchain companies are operating. 

Specifically revealed on December 24, the index was built using the stocks from 50 different businesses, whose operations revolve primarily around blockchain. 

A particular ranking system will be applied to said top 50 blockchain-related stocks, using data from their average day-to-day market value, within a 6-month timeframe. The index will be updated twice annually – on the second Friday of June and December.

Prior to rolling out the index, the SSE has made the final check with said 50 firms to know that they are implementing blockchain in real-life, and not just simply making financial gain on the hype. 

SSE is one of the 2 exchanges authorized to have an independent operation within the China soil. The SSE has a market capitalization equivalent of $3.12 trillion, ranking 4th in Asia, and 8th throughout the world.

Other Crypto exchange heavyweights have also introduced their own index to keep track of blockchain and crypto-focused companies. Nasdaq has listed the CIX100 index, run by A.I, and designed by crypto data provider Cryptoindex.

Tags: , ,