Capital Hunting - Li Ruxin:MSCIwarningAStocks, suspended for trading exceeding50Heavenly kicked out index, banned for one year!

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Just announced that it willAStocks have been included in the emerging market index for only a month, and US index suppliersMSCIThe company is concerned aboutAThe suspended company has issued a new ban.


7month31Today, Reuters citedMSCIAccording to the perspective of the company's CEO, Xie Zhengzhu, China is an exception in the global market, with too many cases of stock suspension.MSCIUnder close observation222Just about to arrive2018Annual inclusion in emerging market indicesAStocks.

Xie Zhengzhu said, "If we find that a company has been suspended for a long time, exceeding..."50Oh my god, we will remove it from the index, and at least in the future12Within a month, it will not be included in the index again

In other words, once includedMSCIEmerging market index stocks, suspended for more than50Heaven, then it will not be able to return to the index for a whole year.

It is worth noting that this12The removal of regulations for months is not a universal regulation in the international market, but will only apply to listed companies in China. If stocks in other markets are removed from the index due to long-term trading suspension, as long as the company resumes stock trading, it can immediately begin re inclusion review.

Beijing Time6month21In the early morning of the day,MSCIAnnounce that China willAStock inclusionMSCIEmerging Market Index, covering ChinaAStock222Only large cap stocks, based on5%The inclusion factors of theseAShare proportionMSCIEmerging Market Index0.73%The weight of.

This isAThe stock has passed the level for the fourth consecutive yearMSCIFinally obtained the admission certificate.

Xie Zhengjing andMSCIChief Operating Officer of the company（COO） Baer PettitPreviously, in interviews with reporters from The Paper, it was mentioned thatMSCIThe company will be includedADuring the process of consulting with global investors, the biggest concern raised by investors is the suspension of trading.

Xie Zhengzhu said at the time, "In the process of this inclusion, we also stopped..."The trading companies have made special technical treatments to exclude them, taking into account the concerns of investors about the suspended companies. At the company level, it is also important to be more responsible in using the suspension power, and regulatory agencies and exchanges should make more efforts in education to elevate China's market level to be consistent with the international market


And his recent statements have once again emphasized that the suspension of trading hinders international investors from enteringAThe severity of stocks. He said, "In a free market, investors hope to enter and exit, even if the market falls. But if you suspend trading, investors cannot come out, so this can be a problem."

The regulatory authorities in China have made improvements to the suspension of trading.

2016In, the Shanghai and Shenzhen Stock Exchanges issued guidelines for the suspension and resumption of trading of listed companies, and the China Securities Regulatory Commission also revised normative documents such as the Interim Provisions on Strengthening the Supervision of Abnormal Trading of Stocks Related to Major Asset Restructuring of Listed Companies and the Provisions on Regulating Several Issues Concerning Major Asset Restructuring of Listed Companies.
And right there3A few days ago, in response to the issue of long-term suspension of trading of listed companies, the China Securities Regulatory Commission once again made a statement.

Spokesperson of the China Securities Regulatory Commission, Chang Depeng7month28At the regular press conference on the day, it was stated that the suspension and resumption system for listed companies will be continuously improved. While ensuring the smooth operation of the suspension and resumption function, it will guide listed companies to exercise their suspension rights prudently and maintain the continuity and liquidity of market transactions.



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Author: Li Ruxin