China's CXMT Joins Shanghai Composite Index 3 Months After Listing, Takes Top Weighting

Largest weighting in the STAR Market Composite Index at 15.74%
Market cap of 3.01 trillion yuan... highest among mainland-listed companies

Chinese semiconductor maker ChangXin Memory Technologies (CXMT) was added to the Shanghai Composite Index just three months after its listing.

China Central Television (CCTV) reported on October 28, citing data from China Securities Index Co., Ltd., that CXMT had been newly added to the Shanghai Composite Index. As of the previous day, CXMT had a 4.67% weighting in the index, the highest among its constituents, ahead of Agricultural Bank of China (3.83%) and Industrial and Commercial Bank of China (3.77%).

CXMT was also added to the STAR Market Composite Index, which is dedicated to technology stocks. Its weighting in the index was 15.74%, ahead of Cambricon (5.05%).

CXMT image. Courtesy of Reuters/Yonhap News.

Companies whose average daily market capitalization ranks among the top 10 after listing on the Shanghai Stock Exchange or the STAR Market may be added to both indices after three months. This is earlier than the one-year mark after listing, when ordinary stocks are typically added to the indices.

CXMT listed on the STAR Market on July 27. Its share price rose more than 400% on the first day of trading, making it the mainland Chinese listed company with the largest market capitalization.

Although its share price has become more volatile recently, CXMT shares rose 3.16% on October 28. Its market capitalization was estimated at 3.01 trillion yuan (approximately 604 trillion won).

This content was produced with the assistance of AI translation services.