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NTES-S Craters 4%+; MSCI China Index Adjustment to Take Effect After Mkt Closes; CICC Predicts Larger Passive Fund Outflow
Recommend 4 Positive 8 Negative 4 |
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NTES-S (09999.HK) opened nearly 3.9% lower this morning before shrinking 5.4% to a low of $189.4 during intraday trading session. It last printed at $191.4, down 4.4%, with a turnover of $379 million. The MSCI China Index's quarterly adjustment will take effect after the market closes today (30th). Due to the MSCI China Index adjustment, NTES-S' weighting in the index will decrease by 0.175%, with an estimated passive fund outflow of US$218 million (approx. $1.71 billion), making it one of the stocks with significant passive fund outflow, according to CICC's research report earlier this month. Moreover, BIDU-SW (09888.HK) shed 3.4% to $81.9. CICC predicted that, due to the MSCI China Index adjustment, BIDU-SW's weighting in the index will slip by 0.03%, with an estimated passive fund outflow of US$35.2 million (approx. $276 million). AASTOCKS Financial News Website: www.aastocks.com |
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