MSCI Includes Xiaomi, Meituan in Latest Index Additions

LIAO SHUMIN

(Yicai Global) Feb. 12 — MSCI plans to add 17 new firms to its Global Standard indexes at the end of the month, including China’s Meituan-Dianping and Xiaomi.

The two Hong Kong-listed tech titans will be accompanied by 10 other Chinese firms, the New York-based index provider said online yesterday. They are mainland-floated Aluminum Corp. of China, Foxconn Industrial Internet, Guanghui Energy, Huaxi Securities and SDIC Capital, and United States-listed Tencent Music Entertainment, iQiyi, Bilibili, Pinduoduo and ZTO Express.

MSCI offers a range of international indexes which are widely used by investors, media and securities professionals, including portfolio managers, brokers, exchanges and academics. It added mainland-listed stocks for the first time at the end of June, debuting more than 200 Chinese companies.

Most of the firms that went public stateside fared well from the news — such as Pinduoduo [NASDAQ:PDD] and Tencent Music [NYSE:TME], which gained 3 percent and 2.2 percent in New York yesterday.

Firms listed on the Chinese mainland also benefited in trading today, with Foxconn [SHA:601138] rising 3.21 percent and SDIC [SHA:600061] climbing 1.9 percent, but Meituan [HKG:3690] and Xiaomi [HKG:1810] lost 4.1 percent and 0.93 percent.

Editor: James Boynton