NEW YORK, March 18 (Xinhua) -- S&P Dow Jones Indices Monday announced methodology change in calculating the S&P Access China A Index (USD), in a bid to "more accurately reflect index returns from the perspective of an offshore investor."
The indice provider is changing the foreign exchange rate used in the calculation of the index, from using the Chinese yuan onshore (CNY) to USD spot foreign exchange rate taken at 4:17 PM Sydney Time as supplied by Reuters to using the Chinese yuan offshore (CNH) to USD WM/Reuters foreign exchange rate taken at 4:00 PM London Time.
The change will become effective prior to the market open on March 25, it said.
It added that because of the change, the S&P Access China A Index (USD) will be calculated and published in a separate SDL file once the new foreign exchange rate data become available.
The S&P Access China A Index (USD) is designed by S&P Dow Jones Indices to reflect the universe of China A-shares available to foreign investors through the Northbound Trading Segments of the Shanghai - Hong Kong Stock Connect and Shenzhen - Hong Kong Stock Connect Programs.