S&P Dow Jones Names China Stocks for Inclusion in Global Indexes
Global equity index provider S&P Dow Jones Indices (S&P DJI) has named the Chinese A-share stocks that will be included in its global benchmark indexes in September as it follows in the footsteps of rivals MSCI Inc. and FTSE Russell in responding to China’s opening of its financial markets to overseas investors.
The list of 1,241 companies, released on Monday, comprises stocks that are accessible to foreign investors via the northbound channel of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The A-shares will be added to some of S&P DJI’s global benchmark indexes with an Emerging Market classification and will be included from Sept. 23, but at a reduced weighting to reflect limits on foreign investment in Chinese companies, according to a statement on the provider’s website. Each A-share company will have a float-adjusted market capitalization weight and will be included at 25% of that weight.
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