Dow Jones Indexes announced component changes in the Dow Jones Islamic Titans 100 Indexes and its three subindexes as a result of the regular quarterly review of the Dow Jones Islamic Market Index.
Japan’s Murata Manufacturing will be deleted from the Dow Jones Islamic Market Titans 100 and its subindex the Dow Jones Islamic Market Asia/Pacific Titans 25 and will be replaced by Tokyo Electron in both indexes. US-based HCA will be deleted from the Dow Jones Islamic Titans 100 index and also its subindex the Dow Jones Islamic Market US Titans 50 and will be replaced by EMC Corp in both indexes.
The Dow Jones Islamic Market Titans 100 comprises the Dow Jones Islamic Market US Titans 50, the Dow Jones Islamic Market Europe Titans 25 and the Dow Jones Islamic Market Asia/Pacific Titans 25.
The changes are a result of a quarterly review of the Dow Jones Islamic Market Index. Component changes made during the review are also applied to all Dow Jones Islamic Market Indexes to ensure compliance with Shariah principles.
To determine their eligibility for the Dow Jones Islamic Market Titans 100, stocks are screened based on their industry type and their financial ratios. Excluded are companies engaged in the following lines of business: alcohol, tobacco, pork-related products, financial services, defense/weapons and entertainment. Dow Jones Indexes then screens out companies with unacceptable financial ratios.
The Dow Jones Islamic Market Indexes were created for people who wish to invest according to Islamic investment guidelines. The indexes track Shari`ah compliant stocks from around the world, providing Islamic investors with comprehensive tools based on a global investing perspective. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
