(Yicai Global) Dec. 5 -- The share price of Luxshare Precision Industry, Apple's largest supplier of wireless headsets, climbed even further after global index provider FTSE Russell said it will replace Baoshan Iron & Steel and China Communications Construction by it and pig breeder Muyuan Foodstuff in its FTSE China A50 Index.

Shenzhen-based Luxshare's [SHE: 002475] stock price climbed 4.6 percent to CNY35.90 (USD5.10) this morning. 

Muyuan Foodstuff's [SHE: 002714] shares fell 0.3 percent to CNY90.40.

FTSE Russell's adjustment will take place on Dec. 20 after market close, the London-headquartered financial firm said in its quarterly review. 

Moves like this are usually triggered by shrinking valuations and liquidity problems caused by trading suspensions, an anonymous FTSE Russell insider told Yicai Global. Since April, share prices of Baosteel and CCCC have been in a downward trend, and the current prices are at their lowest levels for many years.

Henan province-based Muyuan Foodstuff's shares have benefited from the recent surge in pork prices caused by reduced inventory after outbreaks of African swine fever. Luxshare's stock has soared on Apple's streak of successful product series. 

FTSE Russell revealed a waitlist of Chinese firms that may be included in the free-float adjusted index in the next review in March. The list includes drugmaker WuXi AppTec Group, Bank of Ningbo, CSC Financial, Huatai Securities, and Wanhua Chemical.

The FTSE China A50 Index comprises the 50 largest mainland-listed companies, or about 33 percent of Shenzhen's and Shanghai's total market caps. It is followed by many international investors as an indicator of Chinese stock markets' overall performance. 

Shanghai-based Baosteel's [SHA: 600019] stock price declined 0.6 percent to CNY5.40.

Beijing-headquartered CCCC's [HKG: 1800] share price dropped 0.3 percent to CNY5.90.

Editor: Tang Shihua, Emmi Laine