Core Viewpoint - MSCI announced the results of its index review for November 2025, with adjustments set to take effect after the market close on November 24, 2025 [1] Group 1: MSCI Global Index Adjustments - 69 new stocks will be added to the MSCI Global Standard Index, while 64 stocks will be removed [1] - The three largest securities added to the MSCI Global Index by total market capitalization are CoreWeave, Nebius Group, and Insmed [1] - The three largest securities added to the MSCI Emerging Markets Index are Barito Renewables Energy, Zijin Mining International, and GF Securities H-shares [1] Group 2: MSCI China Index Adjustments - The MSCI China Index will see the addition of 26 Chinese stocks and the removal of 20 stocks [2] - Newly added stocks include resource companies such as China Gold International and Zijin Mining International, as well as tech firms like Ganfeng Lithium and Huahong Semiconductor [2] - Stocks removed from the MSCI China Index include Haige Communications, Dong'e Ejiao, and Yihua Life [2][4] Group 3: MSCI China A-Shares Index Adjustments - The MSCI China A-Shares Index will add 17 stocks and remove 16 stocks [7] - Newly added companies include Qianli Technology, Dongyangguang, and Huahong Semiconductor [7] - The MSCI China A-Shares Onshore Index will add 18 stocks while removing 24 stocks, with notable additions like Baiwei Storage and Shengtun Mining [8] Group 4: Implications of Index Adjustments - The adjustments will lead to changes in related index funds, resulting in increased capital allocation to newly added companies and forced selling of removed companies [10] - Historical data suggests that passive funds tend to adjust their holdings on the last trading day to minimize tracking error, often leading to significant trading volume in affected stocks [10] Group 5: Market Sentiment and Foreign Investment - Several foreign institutions have expressed positive views on the Chinese market, with Fidelity Fund favoring emerging markets over developed ones [11] - Despite concerns over geopolitical risks and economic slowdown, some investors see significant growth potential in the Chinese equity market [11]

Group 1 - MSCI announced the results of its index review for November 2025, with adjustments effective after market close on November 24 [1][2] - A total of 69 stocks were added to the MSCI Global Standard Index, while 64 stocks were removed, with CoreWeave, Nebius Group, and Insmed being the largest additions by market capitalization [1] - In the MSCI China Index, 26 Chinese stocks were added and 20 were removed, including significant resource and technology companies such as China Gold International and Huahong Semiconductor [2][3] Group 2 - The MSCI China A-share Index saw 17 new additions and 16 removals, with notable new entries like Qianli Technology and Huahong Semiconductor [2] - The MSCI China A-share onshore Index added 18 stocks while removing 24, with new additions including Baiwei Storage and Shengtun Mining [2] - The adjustments in MSCI indices are expected to lead to increased fund allocations to newly added companies, while those removed will face passive selling from index funds [3] Group 3 - Historical trends indicate that passive funds typically adjust their holdings on the last trading day to minimize tracking error, leading to significant trading volume changes for affected stocks [3] - Fidelity Investments expressed a preference for emerging markets over developed markets, anticipating more consumer stimulus measures in China to boost demand [3][4] - Despite mixed views on the Chinese stock market, there is recognition of its growth potential, with a call for a more rational perspective on investment opportunities in the second-largest economy [4]

Group 1 - MSCI announced the results of its index review for November 2025, with 69 stocks added and 64 stocks removed from the global standard index, effective after market close on November 24 [1] - The three largest securities added to the MSCI global index by market capitalization are CoreWeave, Nebius Group, and Insmed [1] - The three largest securities added to the MSCI emerging markets index are Barito Renewables Energy, Zijin Mining International, and GF Securities H-shares [1] Group 2 - In the MSCI China index, 26 Chinese stocks were added while 20 were removed, including resource stocks and technology companies such as China Gold International and Ganfeng Lithium [3][5] - The stocks removed from the MSCI China index include Haige Communication, Dong'e Ejiao, and Hailan Home [3][6] - The MSCI China A-share index added 17 stocks and removed 16, with notable additions including Qianli Technology and Huahong Semiconductor [8] Group 3 - The MSCI China A-share onshore index added 18 stocks and removed 24, with new additions like Baiwei Storage and Shengtun Mining [8][9] - The MSCI China index serves as an important benchmark for global investors for asset allocation and investment analysis, impacting passive fund flows [9][12] - Following the index adjustments, newly added companies are expected to receive increased capital allocation, while removed companies may face passive selling [13] Group 4 - Several foreign institutions have expressed positive views on the Chinese market, with Fidelity Fund favoring emerging markets over developed ones, anticipating more consumer stimulus measures [13] - In contrast, some investors remain cautious due to geopolitical risks and economic slowdown, while others see significant growth potential in the Chinese equity market [13]

Group 1 - MSCI announced the results of the November index review, with adjustments effective after the market close on November 24 [1] - The MSCI Global Small Cap Index will include 22 new stocks, such as Gilead Sciences (01672) and Meili Tianyuan Healthcare (02373) [1] - 17 stocks will be removed from the MSCI Global Small Cap Index, including China Gold International (02099) and China Nonferrous Mining (01258) [1] Group 2 - The MSCI Hong Kong Index will add 7 new stocks, including Chow Sang Sang (00116) and MGM China (02282) [2] - Stocks removed from the MSCI Hong Kong Index include Kintor Pharmaceutical (02171) and HKT Trust (00215) [2][3]

格隆汇11月6日｜晶泰控股(2228.HK)今日表现强势，盘中一度涨近9%报11.69港元。消息面上，国际指 数编制公司MSCI今早公布11月指数审核变更结果。在本次调整中，晶泰控股获纳入MSCI中国指数，将 于2025年11月24日收盘后生效。 ...

Group 1 - MSCI announced the results of the November index review, with adjustments effective after the market close on November 24 [1] - A total of 22 stocks were added to the MSCI Global Small Cap Index, including companies such as Genscript Biotech (01672) and Youzan (08083) [1] - 17 stocks were removed from the MSCI Global Small Cap Index, including China Gold International (02099) and Longi Green Energy (601869) [1] Group 2 - The MSCI Hong Kong Index included 7 new stocks, such as Chow Sang Sang (00116) and MGM China (02282) [2] - The MSCI Hong Kong Index removed stocks like Kintor Pharmaceutical (02171) and HKT Trust (00215) [2][3]

Core Viewpoint - Ganfeng Lithium (002460)(01772) saw a stock price increase of over 6%, reaching HKD 50.95, with a trading volume of HKD 727 million, following MSCI's announcement of index changes that will include Ganfeng Lithium in the MSCI China Index effective November 24, 2025 [1] Financial Performance - In the first three quarters of the year, Ganfeng Lithium reported revenue of approximately CNY 14.6 billion, representing a year-on-year growth of about 5% [1] - The company achieved a net profit attributable to shareholders of CNY 25.52 million, a significant turnaround from a loss of CNY 640 million in the same period last year [1] Market Outlook - Huatai Securities noted that the increase in lithium prices has driven a substantial quarter-on-quarter performance improvement for the company [1] - Looking ahead, as Ganfeng Lithium gradually increases its lithium resource output, contributions from downstream energy storage and solid-state battery developments are expected to enhance performance, indicating a positive outlook for the company's diversified growth [1]

格隆汇11月6日｜晶泰控股(2228.HK)今日表现强势，盘中一度涨近9%报11.69港元。消息面上，国际指 数编制公司MSCI今早公布11月指数审核变更结果。在本次调整中，晶泰控股获纳入MSCI中国指数，将 于2025年11月24日收盘后生效。 ...

【导读】MSCI发布最新调整结果 当地时间11月5日，国际指数编制公司MSCI发布11月指数调整结果，所有调整将于2025年11月24日收盘 后实施。 紫金黄金国际、广发证券被纳入MSCI新兴市场指数 具体来看，MSCI全球标准指数系列中，MSCI全球指数将新增69只证券，并剔除64只证券。 按总市值计算，MSCI全球指数新增的最大3只证券为美国CoreWeave A、荷兰Nebius Group A、美国 Insmed。MSCI新兴市场指数新增的最大3只证券为印度尼西亚Barito Renewables Energy、中国紫金黄金 国际、中国广发证券H股。 MSCI全球小盘股指数将新增207只证券，剔除224只证券；MSCI全球可投资市场指数将新增199只证 券，剔除211只证券；MSCI全球全市场指数将新增175只证券，剔除71只证券。 MSCI前沿市场指数将新增8只证券，剔除2只证券。按公司总市值计算，该指数新增的最大3只证券为越 南航空股份公司、巴基斯坦米赞银行、约旦阿提哈德银行。 此外，MSCI前沿市场小盘股指数将新增29只证券，剔除9只证券。 MSCI中国A股指数系列将新增17只，剔除16只 对于 ...

Core Insights - MSCI announced changes to its indices on November 6, including the addition of 26 new stocks to the MSCI China Index and 17 new stocks to the MSCI China A-Share Index, effective after the market close on November 24, 2025 [1][4] - The MSCI China Index will remove 20 stocks, while the MSCI China A-Share Index will remove 16 stocks [1][4] MSCI China Index Changes - New additions to the MSCI China Index include Zijin Mining International (02259), Ganfeng Lithium (01772), and Chipone Technology (688469.SH) among others [1] - Stocks removed from the MSCI China Index include Kaixin Network (002517), Changying Precision (300115), and InvoCare (002837) [1][2] MSCI China A-Share Index Changes - The MSCI China A-Share Index will add companies such as Qianli Technology (601777.SH), Dongyangguang (600673.SH), and Changchuan Technology (300604.SZ) [4][6] - Companies removed from the MSCI China A-Share Index include Zhongzhijian (600038.SH), Dong'a Ejiao (000423.SZ), and Guangdian Yuntong (002152.SZ) [4][6] Global Index Changes - The MSCI Global Standard Index (ACWI) will add 69 stocks and remove 64 stocks, with notable additions including CoreWeave, Nebius Group, and Insmed [6] - In the MSCI Emerging Markets Index, significant new additions include Barito Renewables Energy, Zijin Mining International, and Guangfa Securities [6]