MSCI Mingsheng will include Beijing-Shanghai high-speed rail and Kingsoft into the index tracking Chinese stocks
Global index provider MSCI Inc. (MSCI) will integrate Beijing-Shanghai High Speed Railway Co., Ltd. (601816.SH, referred to as: Beijing-Shanghai High-speed Railway) and Beijing Kingsoft company (Beijing Kingsoft Office Software Inc., 688111.SH, referred to as: Kingsoft Office) is included in the index tracking Chinese stocks.
MSCI said on Wednesday that it will include the shares of the two companies in the MSCI China A Onshore Index and MSCI China All Shares Index based on the full market value. This change is part of its quarterly index review.
The Beijing-Shanghai high-speed rail operates high-speed rail services that connect China's political and economic centers. The company went public in Shanghai last month and raised 30.67 billion yuan (about $ 4.4 billion) through an initial public offering (IPO), making it one of the largest IPOs in China in recent years. The stock last fell 2.1% to RMB 7.47.
Kingsoft Office is a competitor to Microsoft Office software. Kingsoft office was listed on the Shanghai Science and Technology Innovation Board in November last year, and its stock price fell 3.2% to RMB 223.61.
MSCI will also include Shanghai RAAS Blood Products Co. (002252.SZ, referred to as Shanghai Raas) into the MSCI China A Onshore Index.