Ouch, this will hurt the markets today.
China was rejected despite a flurry of measures this year to address MSCI’s concerns, including curbs on arbitrary trading halts and looser restrictions on cross-border capital flows. The decision suggests international investors are still uncomfortable putting their money in the $6 trillion market after a botched government campaign to prop up share prices roiled global equities last year.
There were a few points I found slightly hypocritical from the MSCI folks when they highlighted “short selling banning, government intervention” as issues. As if this never happened in the US? Nor any other equity market in the world…