SHANGHAI: China stocks ended Wednesday morning mixed as the market, facing a fresh flood of new share offerings, gave a lukewarm welcome to FTSE Russell’s reception of mainland-listed equities into its indexes.
The CSI300 index fell 0.5 percent, to 5,173.44 points at the end of the morning while the Shanghai Composite Index gained 0.2 percent, to 4,918.79 points.
Hong Kong stocks had a weak tone, with the Hang Seng index and the Hong Kong China Enterprises Index both slipping 0.6 percent.
Index provider FTSE Russell said after Tuesday’s market close that it will launch two transitional indexes that include China A shares – a staggered approach that will bring local Chinese shares into its global emerging markets benchmark in two to three years.
Launch of the indexes, which will have an initial weighting of 5 percent for China A shares – has limited impact on China’s stock market, said Shen Zhengyang, Shanghai-based analyst at Northeast Securities.
“Such a measure might bring in only a small amount of money, which is nothing compared with China’s huge turnover,” he said.
