Hong Kong CNN —Global stock index compiler MSCI is deleting dozens of companies from its benchmark China Index, which could further exacerbate fund outflows from Chinese equities after a massive stock market rout.
The index provider announced this week that it would drop 66 securities from the MSCI China Index, one of its flagship China indexes, as part of the company’s latest quarterly review.
The MSCI China Index is the compiler’s key index tracking the Chinese stock market, covering about 85% of the total market capitalization of Chinese companies listed globally.
On Monday, MSCI also announced changes to its other China-related indexes, including deleting dozens of stocks from MSCI China A Onshore indexes and MSCI China All Shares indexes.
Hong Kong’s stock market reopened on Wednesday after a long holiday weekend, with the benchmark Hang Seng Index up 0.9%.
Persons:
MSCI, ”, Luca Paolini, Hong
Organizations:
Hong Kong CNN — Global, Investors, Greentown China Holdings, Gemdale Corp, Uni, President, China Southern Airlines, Lufax Holdings, Genomics, Midea, MGI Tech, Management
Locations:
China, Hong Kong, Shanghai, Shenzhen, Fuyang, China's, Anhui, AFP, Hangzhou, President China, Beijing, Geneva, Mainland