Component changes made to Dow Jones Islamic Market Indexes

Dow Jones Indexes, announced the results of the regular annual review of the Dow Jones Islamic Market Titans 100 Index and its three sub-indexes, Dow Jones Islamic Market U.S. Titans 50 Index, Dow Jones…

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 Islamic Market Asia/Pacific Titans 25 Index and Dow Jones Islamic Market Europe Titans 25 Index as well as the Dow Jones Islamic Market Malaysia Titans 25 Index and Dow Jones Islamic Market International Titans 100 Index and the regular quarterly review of the Dow Jones Islamic Market World, Country and Regional indexes.  All changes will be effective after the close of trading on Friday, June 18, 2010.

In the Dow Jones Islamic Market Titans 100 Index and sub-index Dow Jones Islamic Market Asia/Pacific Titans 25 Index, KDDI Corp. (Japan, Telecommunications, 9433.TO) and China Unicom (Hong Kong) Ltd. (Hong Kong, Telecommunications, 0762.HK) will be replaced by Hyundai Mobis Co. Ltd. (South Korea, Automobiles & Parts, 012330.SE) and Tencent Holdings Ltd. (Hong Kong, Technology, 0700.HK).

No changes will be made to the Dow Jones Islamic Market U.S. Titans 50 Index and Dow Jones Islamic Market Europe Titans 25 Index as a result of this regular annual review.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Titans 100 Index increased to US$5.37 trillion from US$5.29 trillion.

In the Dow Jones Islamic Market Malaysia Titans 25 Index, Sino Hua-An International Bhd (Malaysia, Basic Resources, 2739.KU) will be replaced by Latexx Partners Bhd (Malaysia, Health Care, 7064.KU).

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Malaysia Titans 25 Index increased to US$33.64 billion from US$33.02 billion.

Thirteen components will be replaced in the Dow Jones Islamic Market International Titans 100 Index. The free-float market capitalization of the reconstituted Dow Jones Islamic Market International Titans 100 Index decreased to US$2.84 trillion from US$2.98 trillion.

In the Dow Jones Islamic Market World Index, 83 components will be added while 137 components will be deleted. That brings the number of components in the index to 2,343.

With 40 additions and  69 deletions, the number of components in the Dow Jones Islamic Market Asia/Pacific Index will decrease to 1055. In the Dow Jones Islamic Market Europe Index, 13 components will be added, while 31 components will be deleted. That brings the number of components in the index to 375. The number of components in the Dow Jones Islamic Market Americas Index will decrease to 773, with 24 additions and 26 deletions.

In the Dow Jones Islamic Market BRIC Equal Weighted Index, four components will be added, while 12 components will be deleted. That brings the number of components in the index to 70.

In the Dow Jones Islamic Market China Offshore Index, two components will be added, while four components will be deleted. That brings the number of components to 21.  With 21 additions and 14 deletions, the number of components in the Dow Jones Islamic Market Hong Kong Index will increase to 109. In the Dow Jones Islamic Market India Index, one component will be added, while eight components will be deleted. That brings the number of components in the index to 171. The number of components in the Dow Jones Islamic Market Turkey Index will decrease to 29, with two additions and three deletions.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market World Index decreased to US$10.70 trillion from US$10.77 trillion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Asia/Pacific Index decreased to US$2.07 trillion from US$2.09 trillion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Europe Index increased to US$2.16 trillion from US$2.12 trillion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Americas Index decreased to US$6.31 trillion from US$6.39 trillion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market BRIC Equal Weighted Index decreased to US$433.89 billion from US$508.20 billion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market China Offshore Index increased to US$46.82 billion from US$36.94 billion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Hong Kong Index increased to US$132.05 billion from US$112.21 billion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market India Index decreased to US$274.92 billion from US$295.41 billion.

The free-float market capitalization of the reconstituted Dow Jones Islamic Market Turkey Index decreased to US$12.81 billion from US$14.94 billion.

The market capitalization values of all indexes cited in this report are as of June 7, 2010.

The Dow Jones DFM Index, Dow Jones Islamic Market Sustainability Index and Dow Jones Islamic Market Industry Indexes are also part of this regular quarterly review.

The Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari’ah compliance. With more than 100 indexes, the series is the most comprehensive family of Islamic market measures and includes regional, country, and industry indexes, all of which are subsets of the Dow Jones Islamic Market Index.

An independent Shari’ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies. To determine their eligibility for the Dow Jones Islamic Market Indexes, 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. Also excluded are companies for which the following financial ratios are 33% or more: debt divided by trailing 24-month average market capitalization; cash plus interest-bearing securities divided by trailing 24-month average market capitalization; and accounts receivables divided by trailing 24-month average market capitalization.

There are currently more than 150 licensees with more than US$7 billion in assets benchmarked to the Dow Jones Islamic Market Indexes.

Source: ETFWorld – Dow Jones Indexes