(MENAFN) The Alibaba Group is planning to step up its push into the investment world by launching stock market index based on its proprietary data, Gulf News reported.
The launch highlights the potential for technology companies to diversify into asset management as well as the drive towards the use of "big data", the analysis of large amounts of information from previously inaccessible sources, in investment decisions.
Ant Financial, the parent company of Alibaba's Alipay online payment platform, and Gildata, another company controlled by the founder of Alibaba, are due to unveil the CSI Taojin Big Data 100 index on Wednesday.
The index will weight industries according to the growth in transactions going through Alipay, as well as the price level and the "supply-demand situation". These weightings will then be used to calculate individual stock positions.
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