FTSE Russell stock indices to cover more Chinese firms

File photo shows an exterior view of the Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. (Xinhua)

BEIJING, Feb. 29 (Xinhua) -- British stock index provider FTSE Russell will exclude one and add 76 Chinese A-shares as constituents of its stock indices after the close of business on March 15, 2024.

After the adjustment, the FTSE China A All Cap (Stock Connect) Indices will track the performance of 1,973 A-shares, the company announced in a semi-annual indices review report.

The market value of these A-shares will account for about 6.18 percent of FTSE Russell's Emerging Index, up from approximately 5.71 percent.

A-shares are yuan-denominated stocks of China-based companies that are traded on the Shanghai Stock Exchange or the Shenzhen Stock Exchange.

Following the adjustment, a notably increased number of Chinese companies will be covered by the FTSE Russell indices, and overseas capital is likely to expand investment in A-shares, said Shen Chao, a macro and strategy analyst at the HSBC Jintrust Fund Management.