PNGX, Papua New Guinea’s national stock exchange, will launch six indices for the PNG market on November 1st, 2019.
A stock market index is a measurement of the performance of the stock market. It is calculated based on the prices of stocks included in the index and is used by investors and investment managers to compare the return on investments.
On November 1st, PNGX will implement the following six equity capitalisation indices to reflect the PNGX market:
|
Full name |
Short Name |
Code |
|
PNGX PNG domestic freefloat capitalisation weighting Index |
PNGX Domestic Index |
PNGXD |
|
PNGX whole of market freefloat capitalisation weighting Index |
PNGX Market Index |
PNGXI |
|
PNGX PNG domestic capitalisation Index |
PNGX Domestic Capitalisation Index |
PNGXDC |
|
PNGX whole of market capitalisation Index |
PNGX Market Capitalisation Index |
PNGXIC |
|
PNGX PNG domestic equal weight capitalisation Index |
PNGX Equal Weight Domestic Index |
PNGXDE |
|
PNGX whole of market equal weight capitalisation Index |
PNGX Equal Weight Market Index |
PNGXIE |
It is anticipated that the PNGXD and PNGXI will become the predominantly utilised indices.
The three domestic indices are restricted to PNG incorporated companies only. The remaining three indices include all domestic and foreign companies listed on PNGX.
“The new indices are another step in improvement of the PNG market infrastructure to allow measurement of the performance of the PNG market, create new financial products, attract new investors and create a more efficient capital market,” said PNGX Chairman, David Lawrence.