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Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. recently announced that SZSE Investment Clock Index (Code: 399644, Abbreviation: SZSE Clock) and CNINFO Investment Clock Index (Code: 399391, Abbreviation: Investment Clock), each published on March, 26, both take December 29, 2006 as the base date and 1000 points as the basis point. The sampling scope for CNINFO Investment Clock Index falls within all A-share listed companies and SZSE Investment Clock Index within all A-share SZSE-listed companies.
According to the preparation scheme, the Investment Clock Indexes were prepared based on the investment clock theory. The theory states that the business cycle is divided into four phases reflationary, inflationary, stagflationary and deflationary; and the industry performance in each phase shows different. The investment clock attempts to identify the four phases by examining the trend in the global growth and inflation. The quantitative investment clock model is designed and developed by Chengdu Sinofin Information Tech Co., Ltd.
It is reported that there was at present not any real time index on the basis of the investment clock theory in China; the investment clock indexes take the first to use the theory in the index investment, signaling the positive probe and innovation of China index preparation technology. The two indexes can be taken as the performance assessment benchmark for industry rotation and indexation investment subjects.
