Core Viewpoint - MSCI announced its quarterly index adjustments for February 2026, which will take effect after the market closes on February 27, 2026 [1] Group 1: Index Adjustments - MSCI China A-share Index will include 33 new stocks and exclude 9 stocks [1] - Inclusion in the MSCI China Index means entry into the MSCI Global Standard Index series, leading to significant passive fund tracking [1]

明晟公司（MSCI）当地时间2月10日宣布指数评审结果，MSCI全球指数将新增63只证券，并剔除61只 证券。MSCI发达市场指数新增最大的三支证券分别是AST SpaceMobile、Coherent Corp和FTAI Aviation；MSCI新兴市场指数新增最大的三支证券分别是宏桥控股、世纪华通和鸿劲精密。 ...

责任编辑：李桐 MSCI表示，MSCI全球指数（MSCI ACWI Index）将新增63只证券，并剔除61只证券。 MSCI发达市场指数（MSCI World Index）新增最大的三支证券分别是AST SpaceMobile A、Coherent Corp和FTAI Aviation。 MSCI新兴市场指数（MSCI Emerging Markets Index）新增最大的三支证券分别是Shandong Hontron Aluminum Industry Holding A、世纪华通和Hon． Precision。 MSCI发达市场指数（MSCI World Index）新增最大的三支证券分别是AST SpaceMobile A、Coherent Corp和FTAI Aviation。 MSCI新兴市场指数（MSCI Emerging Markets Index）新增最大的三支证券分别是Shandong Hontron Aluminum Industry Holding A、世纪华通和Hon． Precision。 责任编辑：李桐 MSCI表示，MSCI全球指数（MSCI ACWI Index）将新增63 ...

1月29日，印尼股市延续昨日的暴跌走势。印尼雅加达综合指数早盘一度下跌10.1%，至7481.99点，为 2025年8月以来最低。该指数还多次触发交易暂停机制。午后，随着印尼相关部门发布积极应对信息， 印尼雅加达综合指数跌幅有所收窄。 对于近两日印尼股市出现的抛售潮，市场一致认为，与1月27日明晟公司（MSCI）的表态密切相关。 据悉，1月27日，MSCI在公开声明中就印尼股票自由流通股评估及市场可投资性问题发出警告，引发外 资对印尼股市投资价值的重新审视，投资者情绪明显承压。 MSCI在声明中宣布，将立即暂停印尼相关指数的多项调整措施，包括停止新增指数成分股以及冻结自 由流通股比例的提升，直至印尼监管机构采取切实行动解决长期存在的市场问题。 印尼金融监管机构表示，未来将采取多项措施应对MSCI公告。如有必要，将确保进一步进行政策调 整。新上市公司和现有公司都将被要求达到15%的公众持股比例。 交易所数据显示，海外投资者周三净抛售了价值6.2万亿印尼盾（约合3.71亿美元）的印尼股票，创下4 月16日以来最大规模。 印尼证券监管机构称，目前印尼正在等待MSCI对拟议调整的回应，希望在3月前解决这些问题。同时， ...

1月28日，印度尼西亚股市遭遇剧烈震荡，基准雅加达综合指数早盘最大跌幅达8%，并触发市场暂 停交易30分钟，创下逾9个月来单日最大跌幅。 此次暴跌的直接导火索是全球指数提供商明晟公司（MSCI）发布的可投资性警告，其明确指出 印尼股市存在根本性投资问题，并威胁可能将其从新兴市场降级为前沿市场。 MSCI在官方声明中宣布，将立即暂停印尼相关指数的多项调整措施，包括停止新增指数成份股 以及冻结自由流通股比例的提升，直至印尼监管机构采取切实行动解决长期存在的市场问题。该 机构特别强调，印尼股市存在两大核心隐患：一是多数上市公司股权高度集中，由少数富豪或战 略投资者牢牢掌控，导致自由流通股比例极低。 彭博社数据显示，雅加达综合指数中超过200只成份股的自由流通股比例不足15%，在亚太地区 主要股指中垫底；二是存在疑似协同交易操纵股价的迹象，严重影响市场透明度与完整性。 此次MSCI的警告并非突然。早在2025年9月，该机构就在咨询文件中表达了对印尼股市自由流通 股数据透明度的担忧，并提议收紧相关定义。据悉，若印尼未能在2026年5月前在市场透明度提 升方面取得足够进展，MSCI将重新评估其市场可投资性，届时可能下调印 ...

消息面上，据媒体报道，彭博社报道，MSCI在最新公告中表示，在印尼监管机构解决上市公司股权过于集中的问题之前，将暂停印尼相关指数调整。 MSCI表示，将立即停止新增指数成份股，并冻结增加可供投资者购买的股票数量，理由是持续存在"基本投资可行性问题"，以及投资者对潜在蓄意操纵 价格感到担忧。 报道称，如果印尼在今年5月份之前未能取得足够的透明度改进，MSCI将重新评估该国的市场可投资状况，此举可能导致所有印尼公司在MSCI新兴市场 指数中的权重降低，甚至有可能被降级为前沿市场（frontier-market）。 每经编辑|毕陆名 1月28日，印尼股指大幅跳水，印尼综合指数暴跌8%，一度触发暂停交易30分钟。其中，印尼国有银行、与大型企业集团有关联的公司的权重股都遭遇巨 大的抛售压力。 | < w | | 印尼综指(JKSE) | | Q | | --- | --- | --- | --- | --- | | | | 01-28 13:43:13 | | | | 8261.79 | 昨收 | 8980.23 | 成交额 | 0 | | -718.44 -8.00% | 今开 | 8368.82 | 成交量 | 0 ...

Core Viewpoint - Foreign capital is flowing back into the Thai stock market due to improved global risk appetite, although potential downward pressures remain from trade retaliation measures and geopolitical risks [1] Group 1: Market Dynamics - Analysts note that geopolitical tensions have eased, leading to a rise in global risk appetite and domestic economic growth factors, which have benefited the Thai stock market [1] - The easing of tensions between the US and Europe over Greenland's sovereignty has helped restore risk appetite in the market, increasing demand for risk assets in emerging markets [1] Group 2: Investment Trends - A key driver for the renewed interest in the Thai stock market is the upcoming rebalancing of the MSCI index, which may see a decrease in Indonesia's weight, potentially leading to a capital outflow of approximately $2 billion from Indonesia's stock market [1] - Some of the capital that flows out of Indonesia is expected to be redirected to other emerging markets, including Thailand [1] - According to Setsmart data, foreign investors net purchased Thai stocks worth 5.5 billion THB from January 3 to January 21 [1]

（来源：吴说） 来源：市场资讯 据行业倡议组织 BitcoinForCorporations 测算，若 MSCI 将资产负债表中加密资产占比较高的"加密资产 金库型公司"剔除出其指数体系，受影响的 39 家公司或面临约 100–150 亿美元的被动资金流出，自由流 通市值合计约 1130 亿美元。摩根大通估计，Strategy 单一公司可能面临约 28 亿美元流出，其占受影响 市值约 74.5%。MSCI 表示正就该规则征求意见，最终结论将于 2026 年 1 月 15 日公布，并可能纳入 2026 年 2 月指数评审。（Cointelegraph） ...

Core Viewpoint - MSCI announced the results of its index review for November 2025, removing 20 stocks including the domestic edible oil leader, Jinlongyu, effective after the market close on November 24 [1] Group 1: Company Performance - Jinlongyu's main business includes the development, production, and sales of kitchen foods, feed raw materials, and oil technology products, and it is a significant player in the agricultural products and food processing industry in China [1] - In 2020, Jinlongyu was listed on the Shenzhen Stock Exchange with an initial price of 25.70 CNY per share, achieving a revenue of 194.92 billion CNY in its first year, a year-on-year increase of 14.16% [1] - From 2020 to 2024, Jinlongyu's net profit attributable to shareholders declined annually, with figures of 6.00 billion CNY, 4.13 billion CNY, 3.01 billion CNY, 2.85 billion CNY, and 2.50 billion CNY respectively [1] - The company's gross margin decreased significantly but showed slight recovery, with rates of 11.01%, 8.18%, 5.68%, 4.83%, and 5.35% over the same period [1] Group 2: Recent Financial Results - For the first three quarters of 2025, Jinlongyu reported a significant recovery, achieving a revenue of 184.27 billion CNY, a year-on-year increase of 5.02%, and a net profit of 2.75 billion CNY, up 92.06% [2][4] - The net profit excluding non-recurring gains and losses was 2.02 billion CNY, reflecting a substantial increase of 745.88% [4] - The cash flow from operating activities reached 27.60 billion CNY, marking a 119.97% increase [4] Group 3: Legal Issues - Jinlongyu's subsidiary, Guangzhou Yihai, was involved in a contract fraud case, facing a potential joint compensation liability exceeding 1.88 billion CNY [5] - The court found Guangzhou Yihai guilty as an accomplice in the fraud, imposing a fine of 1 million CNY and ordering compensation for economic losses [5] - Jinlongyu stated that Guangzhou Yihai was not involved in any fraudulent activities and plans to appeal the judgment [6] Group 4: Market Performance - As of November 24, Jinlongyu's stock price fell by 2.43% to 30.13 CNY per share, with a total market capitalization of approximately 163.35 billion CNY [6] - Compared to its peak in January 2021, the company's stock price has dropped over 70%, resulting in a market value loss of more than 360 billion CNY [6]

Group 1: MSCI Index Adjustments - MSCI announced the results of its index review for November 2025, with adjustments effective after market close on November 24, 2025 [1] - The MSCI China Index added 26 new stocks, including several resource stocks and technology companies in semiconductors and high-end manufacturing [1] - The index also removed 20 Chinese stocks, including four Hong Kong stocks and 16 A-shares [2] Group 2: Market Outlook from Foreign Institutions - UBS and Morgan Stanley have released optimistic outlooks for the Chinese stock market, with UBS predicting a 14% potential increase for the MSCI China Index by the end of 2026 [3] - Morgan Stanley forecasts a moderate increase for the Chinese stock market in 2026, with target levels set for the Hang Seng Index at 27,500 points and the CSI 300 Index at 4,840 points [4] - Both institutions expect continued positive factors to support the market, with Morgan Stanley predicting a 6% profit growth for Chinese companies in 2026 [4] Group 3: Specific Stock Insights - Zijin Mining International (02259) received an "Overweight" rating from Morgan Stanley, with a target price of HKD 175, driven by strong growth in gold production and favorable market conditions [5] - GF Securities (01776) reported a significant year-on-year increase in revenue and net profit, leading to upward revisions in earnings forecasts by Goldman Sachs [5] - Ganfeng Lithium (01772) was rated "Underperform" by Daiwa, with a target price increase to HKD 53, based on improved market liquidity and expected profitability recovery [6] Group 4: Company Performance and Projections - China Nonferrous Mining (01258) is projected to see revenue growth from 2025 to 2027, with a focus on copper production and acquisitions [7] - China Gold International (02099) reported strong performance in the first three quarters of 2025, benefiting from rising gold and copper prices [7] - Rongchang Bio (09995) had its target price raised to HKD 120, maintaining a "Outperform" rating based on stable revenue forecasts for the coming years [8]