“Emerging markets may never be the same.” Say what you like about MSCI, but the index provider clearly believes in its own importance.
Those words form part of MSCI’s announcement on Friday that it will increase the weight of Chinese A-shares – those listed in Shanghai and Shenzhen rather than internationally in Hong Kong and elsewhere – from 5% to 20%.
It’s a bombastic claim, but is it correct?
Clearly, it represents another step in a hugely important process, the opening of China to international investment.
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