MSCI to Add Six Stocks to Its China A-Share Index, Remove Three Others
Dou Shicong
/SOURCE : Yicai
MSCI to Add Six Stocks to Its China A-Share Index, Remove Three Others

(Yicai Global) Aug. 11 -- MSCI Inc. [NYSE:MSCI] said in its August index assessment report that it will add six stocks, including Focus Media Information Technology Co. [SHE:002027], Giant Network Group Co Ltd. [SHE:002558] and First Capital Securities Co. [SHE:002797], to its China A-share index from the end of August and will remove three securities from it.

MSCI did not disclose the names of the remaining stocks to be included or those being removed.

Focus Media was established in 2003. It engages in advertising media development and was a pioneer in elevator media. The company floated on the Nasdaq in the States in 2005 and returned to the A-share market in December last year through a backdoor listing via Hedy Computer Co.

Giant Network, also returned to A-share market from Nasdaq. The firm was founded in 2004. It mainly develops online games. It listed on the Nasdaq in 2007, and returned to the A-share market in April last year through a backdoor listing using Chongqing New Century Cruise Co.

First Capital, a comprehensive securities company, was listed on the Shenzhen Stock Exchange in May last year and has more than 40 brokerages in China.

The aforementioned stocks rose in today's afternoon trading session. Focus Media went up about 6 percent, and retreated to a 1.24-percent gain at USD1.35 (CNY8.98) per share. Giant Network rose around 9 percent and pulled back to a 5.31-percent increase at CNY44.00 per share. First Capital's share price held steady at CNY11 as its trading is suspended.

The MSCI China A-share index was introduced in May 2005 as an independent tracker of the country's A-share market.

MSCI's report said it will add 15 stocks to its China A International Index and remove one, but did not specify company names. MSCI announced plans to initially incorporate 222 Chinese A-shares in the index on June 21, 2017. The securities will serve as a reference for MSCI, who may add more Chinese A-shares to its global emerging markets index.

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Keywords: MSCI , Focus Media , Giant Network , First Capital