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(Yicai Global) Feb. 5 -- Global index provider MSCI has launched two new Chinese technology benchmarks, featuring Meituan, Alibaba Group Holding, and Tencent Holdings as the non-mainland version's biggest constituents.
The MSCI China Tech 100 Index and the MSCI China A Onshore Tech 100 Index were debuted to help investors track firms that are driving China's innovation-led economy, the New York-headquartered company said in a statement yesterday.
Lifestyle services provider Meituan is the most popular stock in the capitalization-weighted MSCI China Tech 100 Index with its almost 12.9 percent tally. E-commerce giant Alibaba is second, making up 9.6 percent of the total. Social media and gaming company Tencent follows with its 9.4 percent. Search engine behemoth Baidu is No. 4, e-tailer JD.Com No. 5, and handset maker Xiaomi No. 6. Netease, Nio, Pinduoduo, and BYD come after that.
"Investors have expressed demand for innovative solutions that are unconstrained by traditional industry classifications and that is what these new broad-based indexes are designed to deliver," said Jack Lin, head of Asia-Pacific client coverage.
Some other notable index constituents include chipmaker Semiconductor Manufacturing International and battery manufacturer Contemporary Amperex Technology.
Editor: Tang Shihua, Emmi Laine