Twenty-six China A shares will be added to the MSCI China Index, while 30 equities from Saudi Arabia and eight Argentine securities are set to join MSCI Inc’s emerging-market stocks benchmarks, in steps that could potentially draw billions of dollars of investor inflows.
MSCI, which announced the additions of Saudi Arabia and Argentina last June, said the stocks will join its indexes as of the close of trading on May 28. Argentina will account for 0.26 per cent of the MSCI Emerging Markets
index, while Saudi Arabia will have weightage of 1.42 per cent.
China A shares will be left with 1.76 per cent weightage in the broad developing-nation gauge, it said. The China gauge will have 31 additions in total, including five that are not A shares.
ICICI Lombard in MSCI India index
MSCI on Tuesday announced that it has added ICICI Lombard General Insurance to its India index. Meanwhile, pharma company Cadila Healthcare was removed from the index. Shares of ICICI Lombard fell 1.1 per cent, while Cadila declined 3.1 per cent.