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China index for Nasdaq-style board

China launched a benchmark index for it Nasdaq-style ChiNext board yesterday, seven months after it created the new market to support small companies with high growth prospects. The ChiNext Index will "comprehensively and objectively reflect the overall price direction of ChiNext board stocks," said the Shenzhen Stock Exchange, which hosts the board. The index was down 1.27 percent, or 12.67 points, at 987.33 in early trading. It had…