ChiNext Index to Phase In a 15% Cap on Constituent Stock Weight

The Shenzhen Stock Exchange will phase in a revised methodology for the ChiNext Index that gradually lowers the maximum weight of any single constituent stock to 15%. The revision is scheduled to take effect at the index’s regular adjustment on Dec. 14.

An index weight represents the share of the benchmark assigned to each constituent. Once the phase-in is complete, no single stock will account for more than 15% of the index’s weight. During the transition, the cap and weight-adjustment factor can only move lower.

China’s foreign-exchange reserves totaled $3.4052 trillion at the end of October, up $4.9 billion, or 0.14%, from September.

Gold reserves rose to 78.3 million ounces from 77.47 million. The increase marked the central bank’s 24th consecutive month of buying gold.