Mirae Asset·Nasdaq, Nasdaq x TIGER ETF Seminar Held
Table of Contents
Table of Contents
Nasdaq Announces Global Semiconductor Index for the First Time in 30 Years
Emily Spurling, Senior Vice President, Global Head of Index Business Unit, Nasdaq New York Headquarters *No resale or DB permitted
[서울=뉴시스] Reporter Kang Su-yoon = On the 9th, the US Nasdaq Stock Exchange (NASDAQ) held its first seminar for global investors in Korea. At the event, the NASDAQ Stock Exchange, together with Mirae Asset Global Investments‘ ‘TIGER ETF’, unveiled the ‘US AI Philadelphia Semiconductor Index (ASOX)’ for the first time in the world.
Emily Sperling, Senior Vice President and Global Head of Index Business at Nasdaq New York Headquarters, unveiled for the first time the ‘PHLX US AI Semiconductor Index (ASOX),’ which invests in AI semiconductors, at the ‘Nasdaq x TIGER ETF Semiconductor …
This is a global semiconductor investment index newly announced by the NASDAQ Stock Exchange for the first time in 30 years since the introduction of the ‘PHLX Semiconductor Sector (SOX, Philadelphia Semiconductor Index)’ in 1993.
Emily Spurling, Senior Vice President, said, “We have high expectations for this index as it is the first in 30 years, and we are happy to be able to announce it in Korea.” She added, “We are delighted to have been able to produce good results through our partnership with Mirae Asset, and we will continue to pursue synergy with Tiger in the future.”
David Choi, head of Index Research for Nasdaq Asia Pacific, explained, “We expanded the weight of leading global AI semiconductor companies by following the performance of AI semiconductor value chain companies and selecting only fabless, IP&EDA, equipment, back-end process, and foundry companies.” He added, “The top 20 target stocks were selected based on market capitalization, including Nvidia, AMD, Broadcom, ASML, TSMC, and Qualcomm.”
He continued, “One might question whether the large investments in AI are justified, but AI is undervalued compared to overall expectations. AI will bring about tremendous changes. A long-term perspective is needed.” He added, “The adoption rate of AI in business is rapidly increasing. Companies are adopting AI to reduce costs and increase productivity.”
Lee Jeong-hwan, head of ETF management at Mirae Asset Global Investments, said, “ASOX is a ‘Legacy Free’ index that has removed legacy processes and only retains industries with growth potential.” He added, “The weights of the top 3 market cap stocks are capped at 20%, 17%, and 15%, respectively, and other stocks have a 12% cap, and up to 20 stocks are included.”
Kim Nam-ki, Vice President of Mirae Asset Global Investments (Head of ETF Investment Division) said, “Mirae Asset TIGER ETF is Korea’s largest ETF brand representing innovation and has been collaborating with the Nasdaq Stock Exchange, an icon of global innovation, for a long time.” He added, “As a new semiconductor index leading the AI era, we will continue to make efforts to expand the investment base for innovative growth industries by building a legacy-free portfolio.”
David Choi, Head of Index Research, Nasdaq Asia Pacific *No resale or DB permitted
◎Sympathetic Media Newsis [email protected]
Global X Genomics & Biotechnology ETF
Mirae Asset·Nasdaq, Nasdaq x TIGER ETF Seminar Held: Introducing the PHLX US AI Semiconductor Index (ASOX)
The Nasdaq Stock Exchange (NASDAQ) recently held its first seminar for global investors in Korea, where it unveiled the PHLX US AI Semiconductor Index (ASOX) in partnership with Mirae Asset Global Investments’ TIGER ETF. This milestone event marks the first time in 30 years that Nasdaq has introduced a new global semiconductor investment index since the launch of the PHLX Semiconductor Sector (SOX, Philadelphia Semiconductor Index) in 1993 [[3]].
The PHLX US AI Semiconductor Index (ASOX) is a modified market capitalization-weighted index composed of companies primarily involved in the design, manufacturing, and distribution of AI semiconductors. The index is designed to provide investors with a way to track the performance of the AI semiconductor industry, which is expected to drive significant growth in the coming years [[2]].
According to Emily Spurling, Senior Vice President and Global Head of Index Business Unit at Nasdaq New York Headquarters, “We have high expectations for this index as it is the first in 30 years, and we are happy to be able to announce it in Korea.” She added, “We are delighted to have been able to produce good results through our partnership with Mirae Asset, and we will continue to pursue synergy with Tiger in the future.”
The ASOX index has been carefully constructed to reflect the performance of leading AI semiconductor companies, including fabless, IP&EDA, equipment, back-end process, and foundry companies. The top 20 target stocks were selected based on market capitalization, including Nvidia, AMD, Broadcom, ASML, TSMC, and Qualcomm. David Choi, head of Index Research for Nasdaq Asia Pacific, explained that the index is designed to provide a benchmark for investors looking to tap into the growth potential of the AI semiconductor industry.
Lee Jeong-hwan, head of ETF management at Mirae Asset Global Investments, highlighted the unique features of the ASOX index, stating that it is a “Legacy Free” index that has removed legacy processes and only retains industries with growth potential. The weights of the top 3 market cap stocks are capped at 20%, 17%, and 15%, respectively, and other stocks have a 12% cap, with up to 20 stocks included.
The launch of the ASOX index is a significant development in the investment landscape, as it provides investors with a new way to track the performance of the AI semiconductor industry. As Kim Nam-ki, Vice President of Mirae Asset Global Investments (Head of ETF Investment Division), noted, “Mirae Asset TIGER ETF is Korea’s largest ETF brand representing innovation and has been collaborating with the Nasdaq Stock Exchange, an icon of global innovation, for a long time.”
The introduction of the ASOX index is a testament to the growing importance of AI semiconductors in the global economy. As Emily Spurling emphasized, “AI will bring about tremendous changes. A long-term perspective is needed.” With the ASOX index, investors can now gain exposure to the growth potential of the AI semiconductor industry, which is expected to drive significant innovation and economic growth in the years to come.
References:
[1] Investing.com – PHLX Semiconductor Index (SOX)
[2] Nasdaq.com – PHLX Semiconductor Sector (SOX)
[3] Nasdaq Indexes – PHLX Semiconductor Sector (SOX)
Mirae Asset Global Investments
Mirae Asset·Nasdaq, Nasdaq x TIGER ETF Seminar Held
On September 9, 2024, the US Nasdaq Stock Exchange (NASDAQ) held its first seminar for global investors in Korea, where it unveiled the ‘US AI Philadelphia Semiconductor Index (ASOX)’ in partnership with Mirae Asset Global Investments’ ‘TIGER ETF’.
Nasdaq Announces Global Semiconductor Index for the First Time in 30 Years
The NASDAQ Stock Exchange has announced a new global semiconductor investment index, the ‘PHLX US AI Semiconductor Index (ASOX)’, which invests in AI semiconductors. This is the first index of its kind in 30 years, since the introduction of the ‘PHLX Semiconductor Sector (SOX, Philadelphia Semiconductor Index)’ in 1993 [[2]].
The PHLX Semiconductor Sector Index is a modified market capitalization-weighted index composed of companies primarily involved in the design, manufacture, and distribution of semiconductors [[2]]. The champion of the Philadelphia Semiconductor Index is NASDAQ:NVDA, which has gained 125.88% over the year[[[1]].
Global Semiconductor Index: A Long-Term Perspective
Emily Spurling, Senior Vice President and Global Head of Index Business at Nasdaq New York Headquarters, expressed high expectations for the new index, citing its potential to bring about tremendous changes in the industry. She emphasized the need for a long-term perspective, as AI is undervalued compared to overall expectations [[3]].
The adoption rate of AI in business is rapidly increasing, with companies adopting AI to reduce costs and increase productivity. The top 20 target stocks were selected based on market capitalization, including Nvidia, AMD, Broadcom, ASML, TSMC, and Qualcomm [[3]].
ASOX: A ‘Legacy Free’ Index
Lee Jeong-hwan, head of ETF management at Mirae Asset Global Investments, explained that ASOX is a ‘Legacy Free’ index that has removed legacy processes and only retains industries with growth potential. The weights of the top 3 market cap stocks are capped at 20%, 17%, and 15%, respectively, and other stocks have a 12% cap, with up to 20 stocks included [[3]].
The partnership between Nasdaq and Mirae Asset is expected to continue, with the goal of pursuing synergy with Tiger in the future. As the first index of its kind in 30 years, ASOX is poised to bring about significant changes in the global semiconductor industry.
References: