Shanghai Stock Exchange considers first revamp of benchmark in 30 years – Bloomberg News

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May 27 (Reuters) – The Shanghai Stock Exchange is mulling the first overhaul of its benchmark index in thirty years to better reflect China’s increasingly high-tech economy, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The exchange is planning to adjust the timing for newly listed stocks to be included in the index and remove some chronically loss-making stocks, Bloomberg News said bloom.bg/3dhZIig.

The bourse may also calculate a company’s market value for the Shanghai Stock Exchange Composite Index based on its free float rather than total outstanding shares, as part of a long-term overhaul, the report added.

The plan comes as U.S.-listed Chinese companies face increased pressure amid heightened tensions between the world’s two biggest economies.

The U.S. Senate passed a bill last week that could stop some Chinese companies listing on U.S. exchanges unless they follow standards for U.S. audits and regulations. (Reporting by Rama Venkat in Bengaluru; Editing by Vinay Dwivedi)

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