(Bloomberg) -- MSCI Inc. released the list of 234 domestically listed Chinese companies that will be added to benchmark equity gauges from next month.
ICBC A and China Construction Bank were among the additions, MSCI said in a statement. Inclusion spread across two trading days in June and September, is expected to channel around $17 billion in passive funds into the world's second-biggest equity market, the index compiler has previously estimated.
While Chinese stocks with New York and Hong Kong listings -- such as Alibaba Group Holding Ltd. and Tencent Holdings Ltd. -- have long been on MSCI's global gauges, international retirement plans, endowments and exchange-traded funds will be forced to buy the nation's yuan-denominated shares for the first time. Still, the initial impact will be mild with the new additions squeezed into a 0.39 percent weighting on the MSCI Emerging Markets Index.
For more on what MSCI inclusion means, click here
To contact the reporter on this story: Richard Frost in Hong Kong at rfrost4@bloomberg.net.
To contact the editors responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net, Rebecca Jones, Tim Smith
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