The Dow Jones Islamic Market China Offshore index was unveiled today, according to Sybille Reitz, spokeswoman. The new index comprises companies that comply with Islamic principles and have primary operations in China with stocks that trade on the Hong Kong Stock Exchange, New York Stock Exchange, Nasdaq or American Stock Exchange. It is designed to be used for mutual funds, exchange-traded funds and other investments.
Ms. Reitz said that because China is a growing market and banks in Southeast Asia target Muslim investors, Dow Jones decided to create the index with those two key features.
She also said that although Dow Jones has not yet licensed the index, interest has emerged from investors in Malaysia, Singapore, Indonesia and Hong Kong.
"While China has experienced tremendous growth, the local Chinese market offers only restricted access to foreign investors. Investing in China offshore stocks is an attractive alternative," said Michael A. Petronella, president of Dow Jones Indexes, in a news release.
