MSCI removes China Tourism, 59 more Chinese stocks as global investors turn to India
Global index compiler MSCI will remove 60 Chinese stocks from its gauges in its latest quarterly review, the third straight cull this year, reflecting the waning significance of the nation’s equities in overseas investors’ portfolios.
Fifty-six companies trading on China’s onshore exchanges and four in Hong Kong will be removed from the MSCI China Index at the end of August, MSCI said in a statement on Monday.
The biggest yuan-traded stocks on the A-share market that are set to be ejected include carmaker Beiqi Foton Motor and state-backed media and advertising firm People.cn, while Hong Kong-listed duty-free shop operator China Tourism Group Duty Free, Flat Glass Group, Ganfeng Lithium Group and GF Securities will also be removed,…
