Global index provider MSCI's announcement that it will quadruple the weighting of large-cap Chinese shares in its benchmark indexes is likely to drive more money into the still highly regulated mainland market, investors and analysts said.
Chinese shares, which slumped sharply in 2018, have been on a tear this year, rising 14 percent in February alone on factors including optimism over progress in ending the U.S.-China trade war and expectations for the expanded MSCI inclusion. "Overall, the final inclusion plan continues to look as aggressive as its proposal, marking another milestone in China's capital market opening up," Citi equity analyst Jerry Peng said in a note dated Thursday, adding that the U.S. bank expects"strong foreign inflows to China's onshore market."
Gao Ting, head of China strategy at UBS Securities, said in a note Friday that the MSCI changes would likely spur $67 billion in inflows to the A-share market this year alone.
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