MSCI Drops Didi, Adds Guangzhou Auto in China Index Review
13 Maggio 2022 - 1:27PM
Dow Jones News
By Yifan Wang
Index compiler MSCI Inc. said it will add dozens of companies
including Guangzhou Automobile Group Co. and Pop Mart International
Group Ltd. to its China stock gauge and remove ride-hailing giant
Didi Global Inc.
The changes, part of MSCI's semiannual global index review, will
take effect after markets close on May 31.
The MSCI China Index, a closely tracked benchmark by global fund
managers, is expected to go through the largest shuffle, with a
total of 33 new additions and 44 deletions.
Some of the most prominent companies being added to the MSCI
China Index include Guangzhou Auto, container transportation
company Orient Overseas (International) Ltd. and popular toy maker
Pop Mart.
One of the constituent stocks to be removed is Chinese
ride-hailing company Didi, which remains under a cybersecurity
investigation by Beijing authorities. Didi earlier this week said
it will have to delist its American depositary receipts from the
New York Stock Exchange before it can resolve the Chinese probe,
sending the stock tumbling to a record low.
Others facing deletions include Chinese property developer Agile
Group Holdings Ltd. and home-appliance retailer GOME Retail
Holdings Ltd.
MSCI also made dozens of additions and deletions to its MSCI
China A Index, which tracks onshore stocks trading in Shanghai and
Shenzhen.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
May 13, 2022 07:12 ET (11:12 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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