Most Chinese stocks fell, led by consumer discretionary companies, after MSCI Inc. said the nation’s shares won’t be included in its global gauges.
About two stocks fell for each that rose on the Shanghai Composite Index, which slid 0.1 percent to 2,051.12 at 9:40 a.m. local time. The gauge climbed the most in a month yesterday after the central bank said it will reduce reserve requirements for some banks by 0.5 percentage point effective June 16 and authorities allowed new share sales to resume.
The CSI 300 Index slid 0.2 percent to 2,157.27. The Hang Seng China Enterprises Index lost 0.3 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, added 1 percent in New York yesterday.
Source : Bloomberg