Smartphone giant Xiaomi, Tencent Music among a dozen stocks to be added to MSCI China Index

Smartphone giant Xiaomi and online video platform Iqiyi are among a dozen listed companies to be added to MSCI’s benchmark Chinese equities gauge, the global index compiler announced on Monday. The inclusion of the stocks in the MSCI China Index at the end of February is likely to benefit them in the long term because they may attract global funds that track such indexes, said analysts. MSCI claims to serve “99 of the top 100 largest money managers”. “Those funds will not buy and sell frequently but [they will] hold…

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