On Thursday Ant Financial Services Group, a financial affiliate of Alibaba Group Holdings, launched an index tracking mainland-China-listed stocks based on their e-commerce activities.
According to a report by state-run China News Service on
Thursday, the CSI Taojin Big Data 100
Index will include 100 stocks selected from industries like
household durables, leisure equipment and products, textiles and
apparel.
When selecting the stocks, data from Ant
Financial’s online platform about those industries’ price levels, supply
and demand conditions, and online transactions is taken into account.
Instead of gauging “quarterly earnings”, the index will estimate firms’ performance by “timely quantitative online payment and transaction data”, so investors will get accurate and up-to-date information, MarketWatch reported.
