China’s stock market is further going global as MSCI Inc, the global index provider, announced on Tuesday it will list 302 China shares in its MSCI China Index, according to a report by Bloomberg.
A list of 234 China A shares will be added to MSCI’s market indexes, including the MSCI Emerging Markets Index, on June 1, MSCI said in a press release.
The list was based on MSCI’s May index review, which had added 11 companies and removed nine from the MSCI China A Inclusion Index, an index designed to represent the performance of China A shares included in the MSCI China Index.
Industrial and Commercial Bank of China, China Construction Bank, Petrochina Co, Vanke and ZTE Corp are among the China A shares that will be included in the list.
MSCI said the 234 China A-share companies have a combined market capitalization of $21.969 billion, according to a report by Reuters.
Shanghai Electric Group, ZhongAn Online P&C Insurance and China Lodging Group will be the three largest additions to the MSCI China All Shares Index, according to MSCI.
The 234 China A shares will represent aggregate weights of 1.26 percent and 0.39 percent respectively in the MSCI China Index and the MSCI Emerging Markets Index at a 2.5 percent foreign inclusion factor, MSCI said.
