By Yifan Wang
Index compiler MSCI Inc. said it will add dozens of companies including Guangzhou Automobile Group Co. and Pop Mart International Group Ltd. to its China stock gauge and remove ride-hailing giant Didi Global Inc.
The changes, part of MSCI's semiannual global index review, will take effect after markets close on May 31.
The MSCI China Index, a closely tracked benchmark by global fund managers, is expected to go through the largest shuffle, with a total of 33 new additions and 44 deletions.
Some of the most prominent companies being added to the MSCI China Index include Guangzhou Auto, container transportation company Orient Overseas (International) Ltd. and popular toy maker Pop Mart.
One of the constituent stocks to be removed is Chinese ride-hailing company Didi, which remains under a cybersecurity investigation by Beijing authorities. Didi earlier this week said it will have to delist its American depositary receipts from the New York Stock Exchange before it can resolve the Chinese probe, sending the stock tumbling to a record low.
Others facing deletions include Chinese property developer Agile Group Holdings Ltd. and home-appliance retailer GOME Retail Holdings Ltd.
MSCI also made dozens of additions and deletions to its MSCI China A Index, which tracks onshore stocks trading in Shanghai and Shenzhen.
Write to Yifan Wang at email@example.com
(END) Dow Jones Newswires