Banks, lenders and other financial companies declined as Treasury rates wallowed near their recent lows.
The inclusion of domestically listed Chinese A-shares in the MSCI Emerging-Markets indexes for the first time could have short- and long-term impact on the Chinese stock market, according to one money manager. "The long-term impact is more significant as global investors will bring a different kind of capital (long-term oriented, more fundamentally driven approach) to the A share market," said Bin Shi, head of China Equities at UBS Asset Management, in a statement. In this way, the inclusion could change "disclosure, corporate governance and many other aspects of the A share market." As the MSCI indexes are often tracked by exchange-traded funds and other investment vehicles, the decision will also open up the A-shares market to many Western investors otherwise shut out.
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(END) Dow Jones Newswires
June 21, 2017 18:13 ET (22:13 GMT)